Questioning EXIT Readiness
I have had a lot of questions, over the years, around what exiting work looks like. Below are the answers to a few of the most common of these questions I have had. The answers are generalized so you can take this information and do the work for yourself. Q “I did not understand it…
What Do They Do When You Are Away?
What they do when you are away will determine if you can be away. You have been in control of your day-to-day work for so long, it may feel impossible to leave your company in the hands of someone else, for more than a few days, or a week. There are two problems with this:…
When Does Succession Start?
When Does Succession Start? Building a business you know you will some day want to exit by selling, passing over control, or reducing your ownership shares, is easier when you have built the business to go in that direction. But, for most small business owners, including myself, that was not the initial goal. When we…
5 Mistakes Even Successful Small Business Owners Have Made
If you have been in business for a few years, you will have made these mistakes at some point. When we build our business, grow our business, or implement any significant change, we are vulnerable to missing, avoiding, and neglecting steps we should have taken. Here are 5 common mistakes you do not want to…
The Succession Plan – What’s Involved? (Topic 4 of 4)
This is the fourth and final topic in this short series covering the problems I see owners have when trying to prepare their business for exit. There are many steps that can be involved in a succession plan and it will vary depending on the business’s needs. Let’s look at 3 areas in detail: Evaluate,…
No Team, No Vacation (Topic 3 of 4)
This is a short series covering 4 problems I see owners have when trying to prepare their business for exit. When most business owners start talking about the different ways they may be able to exit their business, for instance sell off part or all of the business, and slow down or retire, the plan…
Value to the Next Owner (Topic 2 of 4)
This is the 2nd topic in this short 4-part series, covering 4 problems I see people have when trying to prepare their business for exit. You want to sell your business. You have years of sweat equity, money, and emotions tied to this amazing entity you have built. Your clients love your services and receive…
“No One Can Do What I Do.” I Call BS!
I have heard many clients and other business owners complain about their long days, and their inability to grow or let go. Everything relies on them to be at the centre of their business, controlling the start, the implementation, the management, and the delivery of ever aspect of their businesses. Their belief systems are often…
Your Business Does Not Run Without You (4-Topic Series – Part 1)
This is a short series covering 4 problems that I see people have when trying to prepare their business for exit. I am covering each as a separate topic, so check back for the other blogs as they are posted. Who are You? Let’s look at two scenarios of why your business does not run…
Why You Might Be the Reason You Cannot Sell Your Business
One of the top reasons a small successful business is not salable may be because of you, the founder. When the operations of your business depends on the owner to do the work, there is really no business to sell; unless you plan on selling yourself with the business? When you started your business, years…