“I haven’t decided what I ultimately want to do with my business, or when I want to exit, or how much money I’ll need, or whom to sell to, so how can I plan my exit? Besides, I don’t want to exit right now.”
If you’ve said this, or thought it, you are not alone. Many business owners are either overwhelmed with the thought of exiting or are so busy fighting daily business fires that they think they cannot plan their exits.
Know that in your indecision, you are making a decision. As Winston Churchill once observed, “I never worry about action, but only about inaction.” If you take a passive attitude toward the irrefutable fact that you will–one way or another–leave your business, you are deciding to settle for a least profitable exit for yourself and for your family. You must be planning for business succession.
Take your first step today. Talk with Ohio business coach and Certified Exit Planning Advisor, Ralph Berge. Call him 440.838.0991.
