Businesses serious about bringing value for themselves, will want to understand the importance of good planning.
How many small businesses have I spoken to that could have sold for 10 to 20 million dollars if only they had planned with end in mind? Too many!
I just recently reviewed a client profile that has a business in total disarray. “I am so frustrated; I told them – that you did not retain us even five years earlier. We could have helped you build you a solid ship for success. Had we done so, then rather than figuring out a way to get you out of business (debt free) you .may have had a golden parachute worth $10,000,000.”
How sad that they missed the boat. Now the owner (in his senior years) and ready to retire has less time and energy to really turn things around.
If you are a small business owner, I encourage you to make plan with specific strategies designed to maximize your outcome for success. In addition, please consider that though you may be an expert on what you do specifically, it is equally important to surround yourself with competent advisers. It is your journey – and where you end up is often based on a plan with good navigation.