There are many reasons why a business cannot Run Without You; one of these reasons may be because you are not ready. Baring the obvious reason of, “I have not even thought that far ahead,” I want to share 5 reasons with you and one thing you can do to get started for each.
1. Fear that my business will not survive if I am not in it
You have done all the work to create your business, build your business, design the workflow, make all the connections, hire the experts, create the relationships that support the business, etc. You know how everything works, who to call, what to expect, and what to pay. Without you, people in the business would be starting over again.
Start by identifying what you do in the business that could be looked after by someone else. It is the first step in offloading the pieces of your work that leads to the business being independent of you.
2. You don’t know if your business is saleable
The value of your business can be assessed by an expert business valuer. You are not likely worried enough to ask an expert because you have a feeling it is not worth even asking.
Start by putting on borrowed eyes and think about what you would be looking at if you were to buy your business. It is a great way for you to start seeing what is missing in the value of your business.
3. Too much to do to get it ready
For you to exit the business there is a lot that needs to shift and change in the business so it can be ready for someone else to take it on.
Start by identifying what you know needs to change and pick one that you know you can get started on right now. Seeing the full list of what needs to change will make the planning easier and feel less overwhelming.
4. Loosing a piece of yourself
The business you build from the ground up is a lot like raising a child. It is part of you. But at some point you will need to let go so it can be all that is possible.
Start by talking about your business as if it will eventually belong to someone else. This will let your brain start seeing it in future terms and will help you always view your business with future value in mind.
5. I don’t know where to start.
When any project has a lot of moving parts and hidden components, it is difficult to know where to start. It is like having a 1000-piece puzzle without knowing what the picture is supposed to look like.
Start by engaging someone that can help you identify what the picture should look like. Once you have the vision of the future, it is easier to make it happen.
Generally speaking, the reason you are not ready to exit your business is because your business is not ready to Run Without You. Try one of these 5 ideas to get you started towards your business EXIT.
This article is 100% original content – The articles you read in this blog are 100% created by Barb Stuhlemmer, not by AI.
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