Here are five questions to consider for you and your small business:
- What do you want for your future?
- Where are you now?
- What could get in the way?
- What first steps can you take?
- What strategies can you use?
Question 1 – What do you want for your future?
- Have you considered early retirement?
- What about the benefits of retirement while keeping a hand in the business?
- Maybe you want to see your business continue well beyond your ownership?
- Possibly you want to merge or sell your business?
- Or are you like the business owners that loved the business so much that you would
retire the day you got taken out in a pine box?
Question 2 – Where are you now?
- What is your business structure?
- Where are you at in the business cycle? Survival, Growth, Expansion, Maturity, Transition?
- What does your net worth, cash flow and profit & loss statement look like?
Question 3 -What could get in the way?
- Other business owners, family
Question 4 – What first steps can you take?
- Valuation of your business
- Create a team
- Voice your desires
There is no right or wrong, its just who you are and what you want!