Running your company, calling the shots and making things happen has been your life and you have been very good at it. You are and should be very proud of what you have accomplished, but now it is time to step back, to step away, and determine what the next generation of your company looks like. In the following series, I outline many issues business owners face when ready to transition, how to help navigate a business in transition, and some final takeaways.
This is the third post in a three-part series. In Part One, I discussed why so few businesses transition successfully. In Part Two, I outlined ways to fix it. So what's the conclusion?
This is only one possible scenario of how things could go, but there are several key takeaways.
You must have a plan.
Without a plan, life will happen anyway and you (and your family and employees) are probably not going to like the result.
You must be ready to face the future in your heart and head.
Change is going to happen and we all need to face the fact that we are aging and at some point, are going to die.
Consider engaging a transition coach.
Perhaps, you are running your business and have never considered many of the things we covered. Bring in someone to help ask the right questions and walk through this process with you. It will be the best money you spend! It will improve your business and your likelihood of surviving, thriving, and leaving a long-term legacy that you are proud of.
When you are ready to consider a transition plan for your business click the button below, fill out a short pre-assessment and I will send you my calendar to schedule an appointment. I'd love the chance to help you think through what stepping away could look like for you.
