Business mentor Christine Nicholson talks to Connie Whitman about the importance knowing your numbers when planning your exit.
Being in business for over 20 years I am busy running my business and sometimes we business owners forget that our lengthy to-do lists will never compete!
As I am aging, I have thought about succession planning to either sell my business in the next decade or my kids choose to take it over. Either way, I need to infrastructurally as well as organizationally have a plan that allows me the opportunity to step aside and cash out.
70% of business owners are looking to fund their retirement from the value of their business – yet only 2% know how much their business is worth.
When the owner and their business have an actionable plan it makes the business worth it no matter when the business owner leaves.
Connie’s motivational quote for today is by – Anne M. Mulcahy, “One of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge, and perspective, so that it’s almost a non-event when it happens.”
Christine and I are going to discuss the topic of generating real value that business owners can extract to fund a better retirement AND leave a thriving business for the next owners. It all starts with letting go.
Christine is a multi-award-winning professional business mentor with 40 years of experience. She has written 4 books, spoken at over 200 events, is qualified as an accountant, and has a law degree and a couple of other master’s degrees. I’ve saved businesses in different sectors THOUSANDS of pounds/dollars and helped owners increase the value of their business by MILLIONS.
Do you know your numbers? Can I help? Click here to contact Christine by email alternatively you can book a call with the Business Mentor of the Year 2020, author and speaker. Helping business owners get their businesses exit ready so they can enjoy a happier, richer future. Christine saves them THOUSANDS and increases the value of their businesses by MILLIONS.
