Rise Above the Excuses for not Planning Your Business Exit
In the last issue (#44), we emphasized It’s Never too Early to Start Planning Your Business Exit. In this issue we encourage you to Rise Above the Excuses for not Planning Your Business Exit.
"Ninety-nine percent of the failures come from people who have the habit of making excuses." George Washington
Rise Above the Excuses for not Planning Your Business Exit
You cannot afford excuses. There is too much at stake – your financial freedom, your family’s security and your legacy. You cannot afford to not spend the time, resources and effort to plan for what is (usually) the once-in-a-lifetime process of selling your business. Although it is a rewarding event, it is the preparatory process that allows you to experience the success of the event. Simply stated, you need to start the planning process as soon as possible. If you do, as discussed in the last issue, you will see incremental rewards before the final payday.
You need to rise above the excuses for not planning your business exit. There’s too much at stake to do otherwise.
The third issue of this newsletter series included a list of reasons why business owners have not prepared a formal transition/succession plan. None of the reasons are acceptable excuses, but let’s examine a few of them. You can find the list and references to the sourced material in our newsletter article titled Issue #3 – Amazingly Poor Business Exit Planning Statistics.
Business exit planning identifies opportunities for improvement
Third on the list of business owner excuses for not planning their business exit was “too time consuming.” Fourth was “too complex, wouldn’t know where to begin.” Fifth was “no adequate advice/tools available.” That’s nonsense! Although business exit planning does involve …
