When do I start my exit planning and how much is my company worth? We have gotten these questions for decades, especially from Baby Boomers. Sometimes it comes across casually: “So what do you think, should I start my exit plan 2 years ahead, maybe 3 years ahead?” They often ask knowing the answer. They […]
Exit and Succession Planning is a Team Sport We have advisors and coaches in all facets of life. But in this most important area for our future, for our family and for our retirement, most business owners are pretty much just “winging it”. Oh, they may have an accountant but not much more of a […]
Positioning and Growth for Transition CDA, Inc. is a successful health insurance agency with four decades of focus on the health and well-being of their clients. “As we continue to build business value, I am also preparing my fun, travel and family time.” The Challenge – Planning the Transition Erica was not “running out the […]
In my blog post on Exit Planning and Succession Planning Options, I discussed the many ways to exit your business. When we think of exit planning, we tend to think of simply selling the business one day and receiving a check for the full amount. The reality is quite different. There are so many possibilities, […]
“Procrastinate now, don’t put it off” ~ Ellen DeGeneres Ah, procrastination! I have put off writing this blog for too long. But why? “Never put off till tomorrow what may be done the day after tomorrow just as well.” ~ Mark Twain Consequences In business, decisions don’t get made and actions are not taken. […]
Written Procedures – Don’t leave money on the table in your exit planning and succession planning! If I recommend to a client that they document all of their procedures, I usually get a verbal, or nonverbal “Ugh!”, and get walked to the door. If I say I have a recommendation that will help them: Grow […]
How Can I Leave Thee – Let Me Count the Ways It is not simply a matter of handing over the business and getting a check for the full amount on your way to the islands for the rest of your life. Despite what you hear, it rarely happens that way. It may be a […]
Understanding TRANSFERABLE Value and Value Drivers First, let’s discuss Transferable Value I usually put it this way: “What would happen if you left your business for three months, headed down to an island with absolutely no way to communicate?” If you get back and the business is humming along well, even thriving, you may well […]
Knowing Your Business Value Why is it important to know what your business is worth? Well, the obvious answer is so that you know how much to ask for it when you are ready to sell. But what about today? Do you know what it is worth right now? When I ask business owners about […]
Customer Experience – Customer Journey. One More in Our Series on Key Drivers of Business Value: The Customer Experience Customer service, delight the customer, customer relationship, customer satisfaction, customer cultivation, customer experience, customer engagement, customer journey. to-MAY-to, to-MAH-to. Like with anything, language evolves. But the basics remain: Your customers and potential customers experience you, […]