2021 Wisdom for Business Owners
Updated: Jan 15
Today is New Years Day 2021 and my new years' resolution can be summed up in one word...SHARING. After 35 years of experience advising business owners - in 2021 I will share wisdom that I believe can be extremely helpful to business owners that want to figure out how and when to exit. Especially now, with Covid-19, life has changed significantly and business owners have tough decisions to make. By sharing, I plan to help.
As a hands-on business advisor, I consider myself a "Participant Observer"; a participant through the process of strategy development and an observer of their decision-making and its effects. And, after three decades observing and working with business owners, oh, the stories I can, and will, tell!
I have observed many highly successful business owners experience a wake-up call about what they really want out of life. Especially this past year. People who thought they would continue working until the day they die are realizing there is more to life than running their business and they want to explore their options. In my experience, these owners need help making important decisions and the exit is most likely their most challenging transaction ever.
However, business owners are human and all humans are emotional, some more than others. Sometimes, business owners are prone to emotional decision-making - but don't know it until it's too late. And when that happens, look-out, as it tends to have costly financial and relationship results. We see this occur time after time with longtime partners in business, family members in business together, and employees who feel entitled. To help harness the emotions when designing and implementing an exit strategy, we use EQ - Emotional Intelligence. By integrating Emotional Intelligence in the exit planning process, we help the business owners and stakeholders at the table manage their decision-making with open eyes and a clear mind.
So when is the right time to exit? Who knows! It differs for everybody, but I hope that by sharing my experiences and stories, business owners can learn from others' success AND mistakes. Through organized case studies, video interviews of business owners, sharing our process and more... I will SHARE my wisdom of thirty-five years!
If you are ready to learn more about the Exit Process, download our eBook and start Building YOUR Bridge to Monetization!