Each day we wake up and "do our thing". We make customers happy, get referrals, answer the phones with a friendly voice, and generally keep motivated in our own ways.
But what about "the end?" When you're just not motivated any longer, or you've reached some certain point in your career, what is your plan on how your business will look when you finally hang up the wand?
Plenty of folks are owner/op their whole life and they're perfectly happy with the arrangement. There's certainly nothing wrong with this set up if the O/O is content with doing most or all of the work and have no plans to grow beyond their own capacity.
So what's your plan when you punch out?
Hang it up for good and walk away?
Sell your baby?
Pass your biz to family members?
Retain ownership but hire replacements?
Me? I'm selling at a certain point. I've been preparing to sell my baby for several years and still have a little bit to go, but with each passing day it becomes more ready for that inevitable day.
This is a tough question because we get so caught up in the doing it stage that we often forget or don't place any importance on succession or selling until we're forced to make that decision.
So what's your plan?
Scott
But what about "the end?" When you're just not motivated any longer, or you've reached some certain point in your career, what is your plan on how your business will look when you finally hang up the wand?
Plenty of folks are owner/op their whole life and they're perfectly happy with the arrangement. There's certainly nothing wrong with this set up if the O/O is content with doing most or all of the work and have no plans to grow beyond their own capacity.
So what's your plan when you punch out?
Hang it up for good and walk away?
Sell your baby?
Pass your biz to family members?
Retain ownership but hire replacements?
Me? I'm selling at a certain point. I've been preparing to sell my baby for several years and still have a little bit to go, but with each passing day it becomes more ready for that inevitable day.
This is a tough question because we get so caught up in the doing it stage that we often forget or don't place any importance on succession or selling until we're forced to make that decision.
So what's your plan?
Scott