Topics and Events
This exit strategies newsletter departs from the technical aspects of Exiting a business. It focuses on the mental challenges of exiting a business – specifically, the challenge of breaking out of your ‘comfort zone’.
Five (5) Truisms About Small Businesses that Hinder Growth and Exit Goals (and how to overcome them)
Many successful business owners try to answer the question, ‘How do I get my company to the next level?’. Many owners exhaust themselves and their resources each year, pushing their businesses to perform at higher and higher levels. However, there are a number of ‘truisms’ about small business that, once understood and accepted, can make the growth (and transition) process more effective.
At a certain point in time, a successful business owner stops thinking about all the day-to-day operations and the strategic planning for the company’s execution in the marketplace and starts to think about the future ownership and who will own and run their business after them. When considering your personal goals, it is helpful to identify whether your business is an accumulation asset or a consumption asset.
This newsletter is written to highlight the differences between public ‘liquid’ and private ‘illiquid’ securities.
Having an understanding of how and for how much money businesses like yours transfer in the marketplace is a critical piece of the overall formula for Creating a Transferable Business™. Today’s newsletter takes a closer look at this important topic to further the process of having you think through the transferability of your business in light of the industry in which you currently exist.