I want to plant a seed for you to think about.
You have a successful company; you feel like you’re making a tremendous impact for your clients; you’re making decent money and feeling confident. Things are so much better than when you were working for someone else in the traditional “9-5” job.
Yeah, you’re putting in a lot more hours than you did back in the corporate world and you can’t just leave the responsibility at the office when you go home at night to have dinner with your family, but it’s a good feeling that you’re doing it for you instead of making someone else rich. (Oh yeah, you hate to admit it, but you’re getting a little tired of that overwhelm you feel running your business and trying to manage it all.)
A couple years later, you’re starting to think about walking away from it all…maybe you’ll consider selling your company, afterall you don’t want to leave your clients hanging or your loyal employees scrambling to find other jobs.
You start to put feelers out only to learn your business isn’t sellable; it’s NOT the right model.
Here’s a couple reasons why:
- Your service offerings are considered boutique (and you haven’t niched down enough);
- You’re involved with EVERY aspect of your business;
- Your clients associate your company with YOU, despite the fact that they may be working with some of your other team members;
- You’re still in control – it’s not even easy for one of your team members to easily step into your shoes.
This is a true story!
Imagine then how you would feel to just walk away. How would you feel knowing your team and clients, who have become almost like family to you, will be left to their own devices? (Yeah, you were often overwhelmed, even frustrated at times, but secretly you kind of liked that others considered you a source of expert advice, one who they could count on…being that person who kept things running.)
But let’s go a step further and consider another scenario. What about the unexpected? Maybe…
- An life-threatening illness
- A death in the family
- A necessary move to another state
- The need for a major personal cash infusion
If you’re not building your company in line with your endgame – with an exit strategy in mind – you may be stuck with nothing to fall back on because your business will not be ready when you are.
Let’s wrap it up with one more item to think about: if you don’t have a strategic plan in place…if you’re not scaling your business and positioning yourself now for a Profitable Exit, will you have enough to live the life you really want?
Many business owners run their companies with the mindset that they want enough to pay their bills and live comfortably, but is this enough to last you well into retirement?
Tip: Look at your company as a long-term investment in addition to a current cash flow machine.
Contact us today for a complimentary breakthrough to create your customized plan: https://quantumscalingstrategies.com/reachpeggy