A question for the Business Owner

"Can you honestly, accurately and succinctly, explain what when and how the business is going to deliver against your personal financial objectives?"

If this question is difficult to answer then you should consider further:

Have you actually established your personal financial objectives?
Does the business represent a major element of your retirement planning?
Do you have an expectation that the business will be sold at some point in the future?
Do you know how much you expect to sell the business for?
Do you know how much you need to sell the business for?
Do you know when you will be able to leave the business and enjoy your success?

If any of these questions are relevant but again you have difficulty in answering them , then perhaps there's a need to address the issues very soon. That is particularly the case if the intention is indeed to sell the business. A successful business sale is very difficult to achieve without an effective planning and implementation process. The idea that it can be done at the last minute is totally false.

There is sometimes reference to a process known as window dressing with regard to preparing a business for sale. However, in reality this is a totally unhelpful and misleading suggestion.

A business sale process, even one that has had thorough preparation, can become a challenging one. In the absence of such preparation the likelihood of a successful transaction, or any transaction at all, becomes extremely unlikely.

Whatever the business needs to deliver to you the owner, if it is not clear how that is going to happen, you owe it to yourself to take action.

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Development Planning

For any business to successfully deliver its full potential it needs to establish a clear vision and then have all the essential building blocks in place to achieve that.

It's time to start establishing the destination.

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Whether it's accounting or your finances, advice on theoretical matters or assistance with practical tasks, the security of you business depends on getting it right.

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Succession and Exit Planning

As the owner are you able to say when and how the business will deliver your personal financial objectives. Have you established those objectives?

It's time to start planning.

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