Is your business truly ready for you to step away?
Imagine taking the afternoon off and enjoying quality time with your grandchild at their soccer game or on the golf course. Now imagine it while not having to worry about running your business. There’s a difference, right?
Before diving into these moments, consider if your business can thrive without you. Here are three crucial questions to help you evaluate:
- Can You Truly Unplug? Could you take a week off without urgent calls? If your business relies on you for daily operations, it’s time to invest in your team and streamline processes.
- How Healthy Is Your Piggy Bank? In today’s economy, a strong cash position is essential for attracting buyers. Financial resilience could be the key factor in your exit.
- Are You Playing Favorites with Customers? If a significant portion of your revenue comes from just a few clients, it’s time to diversify. A broader customer base enhances your business’s appeal.
Remember, preparing your business for an exit is like crafting a great meal—it requires time, attention, and the right ingredients.
