As a business improvement consultant specialising in exit strategies I am constantly amazed at the ostrich mentality of many business owners I meet here in Australia.
Maybe its a global or Western world view, I’m not sure. What I am sure of is that this “stick my head in the sand till the problem is gone” mindset in regards to their potential exit strategy will cost them dearly.
How can educated, successful business owners not see the value in succession planning?
Is it because they are too busy running the business to spend the time and money needed to plan for the future? Actually this could well be the case as the typical worker fares no better when it comes to retirement planning.
Surely though it must cross their mind that unless they remove themselves from the running of the business they have nothing more than a job? Granted they have more job security than the average person with a job but its still just a job nonetheless!
How many investors do you know who want to buy a job though? That’s what I thought.
So really, removing themselves from a job, systemising the business so it runs without them, empowering their staff and preparing an exit strategy are no-brainers when you think about it.
But still I hear the excuses like “its not the time” or “I’m not thinking of selling yet”.
Regardless of whether you are thinking of selling/retiring next year or in twenty years you would think it makes more sense that the business makes a consistent profit without you having a “job”?
So what we call Exit Strategies are actually just clever strategies to achieve your vision by systemising your business and empowering your people!
Visualise. Systemise. Empower. Enjoy.