Have you planned your escape?

As business owners most of us don’t spend much time thinking about getting out of our business. It’s hard enough to get started and to grow the business to become a resounding success.

There are, however, two very significant reasons why you want to plan your exit – and do it much sooner than you think:

The [big] money is made on the exit.
For most of us as business owners daily operations allow for only modest returns and a moderate drawing of salaries and benefits. However, when it’s time to exit you have the opportunity to score big. Really big.

The point here is not to be the next story on the front of the Financial Review. But what if you could build a solid business over five years and exit for a few million dollars? If you get bored you could always start another business 🙂

The second big reason is cyclical.
Say you started the business from scratch and what you’re really good at is growing something from nothing, hiring the first employee, finding the first office, building the brand? But somebody else would be far better suited to run the business day-to-day and growing it steadily over the next five years. Indeed you’d get bored if you did.

And you may not think so, but profitability suffers when you as the business owner get bored.

What’s your story?