FIVE THINGS EVERY BUSINESS OWNER MUST KNOW ABOUT EXIT PLANNING
As a business owner, likely the largest financial and personal decision you will make in your life is exiting your business. Successful exit strategies follow two concurrent paths. The business improvements path and your personal and financial planning path. Failing to consider and plan for both paths equally will cause problems to arise in your life and your business.
EXIT STRATEGY AS A BUSINESS STRATEGY
Exit planning is laser-focused on what you can do right now to grow the value of the business and drive income. Forget the future. Focus on today. By focusing the approach on building a business with characteristics that drive value and integrate the owner’s personal and financial objectives into it now, there will be many options to exit on the owner’s timeline and terms.
BUSINESS ARTICLES
HOW IMPROVING THE FOUR INTANGIBLE CAPITALS CAN BUILD VALUE IN YOUR BUSINESS
What makes your business valuable? It is likely that 80% of your company’s value lies within the four Intangible Capitals or 4Cs. These Intangible Capitals consist of Human, Social, Customer, and Structural Capital.
Strong intangible capital builds value in your business
READINESS/EXIT PLANNING EXTERNAL LINKS
HOW INTANGIBLE CAPITALS MAKE OR BREAK A BUSINESS
People are everything. I don’t care how good your product or processes are, if you don’t have the right people - you’re screwed. So for me, I may argue that the people component or “human capital” is one of the most difficult to navigate and one of the most important. Yet these folks need to exist inside of a culture or “social capital”