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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: leadership
The Unplanned Exit
One of the least-heralded benefits of exit planning is preparation for an unplanned exit. In the brokerage business, the reasons driving the listing of a company are known collectively as the Dismal D’s. Some of “Da D’s” are just typical … Continue reading →
2 Responses to The Unplanned Exit
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Four Basics of Exit Planning 4: Professional Team
Your professional team is the fourth component of exit planning preparation. We’ve already discussed valuation, distance to goal and classes of buyers. Taken together, these basics aren’t enough by themselves to execute an exit plan, but understanding the first three … Continue reading →
One Response to Four Basics of Exit Planning 4: Professional Team
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Jim Wisdom says:
John, thanks for this excellent Blog Post. It’s a reminder to business owners that selling a business is much more complex (and generally takes a lot more time if done properly) than selling a house. As an Exit Planning Advisor, I appreciate you providing this information.
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Four Basics of Exit Planning 2: Distance to Goal
Once you understand your company’s value, the next step in planning is to calculate your Distance to Goal. As the Cheshire Cat said, “If you don’t know where you are going, any road will get you there.” “Any road” is … Continue reading →
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Exit Planning: Ripples and Ripples.
Every stone thrown into a pond creates ripples. Every advance in technology does the same. The late Stephen Hawking said that we were progressing too quickly. Along with other technology and science notables, he argued for a slowing down of development in … Continue reading →
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Succession Planning – Ownership Lessons
When selling your business to employees or family, ownership lessons rise to a special level of importance. Regardless of the financial, inheritance, estate or valuation aspects of the plan, the real question is how to prepare your successors to run … Continue reading →
John: Thanks for a great blog post. I have found that most business owners only focus on the planned ( voluntary) exit. They rarely ( if ever) thank about the involuntary( unplanned) exit. Thanks for reminding all business owners that they should also plan for the involuntary exit as well. Sadly, it happens all too often.
Good tips here. Sometimes, we need to take the unplanned route so it helps to have some exit plan to prep for the unexpected.