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Preparing your business for a successful future often goes hand in hand with preparing your business for a successful sale. No matter whom you sell to—and even if you believe you’ll never sell your business—you should focus on catching Deal Killers. Deal Killers are things that can affect your business’ value and future. Let’s look

Setting goals is a catalyst for success, especially if you’re planning for the future of your ownership and the success of your business. The strongest goals tend to have five aspects that help you guide the process for achieving them. In other words, when you set goals, you want to set SMART goals: Specific Measurable

Successful business owners often want more than just the maximum amount of money they can get. These owners have deeply ingrained values-based goals that guide why and how they do business. But many of those same owners don’t apply an appropriate amount of weight to values-based goals until it’s too late to achieve them. Some

For nearly 5,500 years, human beings have written things down. From Hammurabi’s Code and the U.S. Constitution to your personal business plans, writing things down helps people follow rules and best practices, and pursue goals and action items. However, many successful business owners don’t have any written plans they can follow to help them achieve

Planning for a successful future without your business is a smart strategy. One of the traps that business owners commonly fall into as they begin planning for their successful future without the business is seeing what they need to do and trying to do everything all at once. However, much like your business didn’t spring

“All those years of work are thrown away. To ease your mind is that all you can say? But what about that grandson on your knee? Them railroad songs, Tom would sing to me.” –Robert Plant Many business owners dedicate decades to making their businesses successful. Far fewer owners plan for how they and their

As a business owner, you manage all sorts of complexity in your work. Goals, expectations, and the people who help you meet them may change. But even though things constantly change, you can still adapt, thanks to smart and focused business planning. After all, if your company couldn’t adapt to change, it likely wouldn’t be

While working on setting a date, you can get started on a second element: making a preliminary analysis of your financial needs. Most of us have been through the exercise of listing assets and expenses so that our financial advisor can plug in various growth and inflation assumptions as well as our life expectancies and number of years until retirement. Using these “what if” scenarios, we can estimate the size of our nest eggs. For more information call the number on the screen or visit us at businessexitnow.com

Setting a target departure date is absolutely indispensable to creating an exit plan. An exit plan for an owner who wants out in two years will look quite different than the plan for the same owner willing to stay for ten. Some owners, however, attempt to avoid establishing this date because they believe that they must carve it in stone. In reality, the departure date is the objective most likely to be adjusted and often, adjusted repeatedly. Other owners are uncomfortable picking a date out of the air. these owners are better able to establish a date if it relates to an event. For example you may want to work until the business value reaches a certain level. You must set this important goal and give the plan a framework within which to operate. For more information call the number on the screen or visit us at businessexitnow.com

The starting point for any type of plan is defining its goals. In the case of planning a business exit, this means knowing what it means to exit your business in style. We believe that the reason that business owners do not act on their goals is because their goals are not actionable, meaning the goals are too vague, insubstantial, and/or intangible. What owners need are goals that are precise, concrete, and real. Goals need to be smart. S for specific. A goal should have as narrow a focus as you can make it. M for measurable by some yardstick- money, size, time, etc. a for attainable. A goal should be able to be reached. R for relevant. A goal must be relevant to your situation. And T for trackable. A goal has to have benchmarks along the way to keep you focused. Remember goals should be smart. For more information call the number on the screen or visit us at businessexitnow.com.