Is It Time to Let Go of the Company?
Maybe it’s time to stop. Has that thought gone through your mind? Perhaps you’ve been thinking about transitioning the business to your children or offering it to your management team, or maybe about selling it.
It’s a big decision. You’ve spent years working to control the business. All that effort and energy and sacrifice was to create something that would matter and that would lead to a return on that investment. And it’s bigger than the business, isn’t it. Our businesses express who we are and what we stand for. Transitioning out isn’t just one more business deal. It requires a shift in mindset, not just a shift in ownership.
In all our years of working with business owners, we’ve found that while most have become proficient at running their business, few have put serious energy into preparing to exit the business. It’s a different skill altogether, and one that’s becoming more important than ever.