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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: selling a business
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 →
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Time Frames for Exit Planning
Time frames are one of the most critical, challenging and frightening factors in planning your exit. At the same time, they are one of the most flexible factors in your plan. How can something be this important and still be … Continue reading →
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Exit Planning: Controlling Your Choices
Many owners are reluctant to plan for their departure from the business. In some cases it’s because they are too comfortable with ambiguity (see my previous post.) For others it is because they fear losing control. They believe that setting a … Continue reading →
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Ambiguity Kills Value
Ambiguity kills value. That was a key point in a white paper from Orange Kiwi that I read over the holidays. Taken from the PhD thesis of Dr. Allie Taylor, the paper describes the psychological profile of entrepreneurs, and their historical … Continue reading →
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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.
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.