Owner obstacles to the implementation of an exit plan are often unconscious, but they can be dramatic.  Their attachment to the business can be difficult to break. An advisor spends a lot of time and energy developing the vision for life after ownership in the hopes that it is far more attractive to them than their current role in the business.

Retirement can be an exciting milestone. It’s also a major lifestyle change. Oftentimes, your daily business workday tasks will likely no longer exist. Transitioning into retirement for some is an easy process. But for others, their profession or business is their passion.

Do you have a strategy for the emotional side of career transition and exit planning? Many owners end up grieving the loss of their business for years. How do we avoid seller's remorse, and what can we do during business exit planning to mitigate these feelings of regret?

Recurring revenue makes revenue more predictable, adds lifetime value to a customer and makes your business more valuable. In order to create these sales, service contracts are the place to start.

Do you know how to avoid disappointment with the money you make from the sale of your company? Generic metrics are not always the best way to determine value.

There is never enough money to invest in developing products when you’re running a self-funded business. Most of your resources go into selling existing products and services, leaving little to fund your new product ideas.

The future of a business can be particularly tricky when there is no succession plan. Here are some tips for both the transition and transaction of moving on from your garden center.

If you’re a service provider, it can be difficult to separate the service from the provider. Your customers might specifically request you to work with, which means you can’t scale your business beyond the hours you’re willing to work.

The best time to sell your business is when someone wants to buy it. While it can be tempting to continue to grow your business forever, that decision comes with a significant downside.

If you’re wondering what your business might be worth to an acquirer, there is a simple calculation you can use. Let’s call it “The Build vs. Buy Equation” that applies to every business.

A new decade always comes with a slew of predictions that can be scary. Will a new superbug take hold or the stock market crash? Will the economy tank?

The value of your business comes down to a single equation: what multiple of your profit is an acquirer willing to pay for your company? profit × multiple = value

If the pandemic has forced you back into the weeds of your business, you’re not alone. Many business owners are again doing tasks they haven’t done in years due to to laying off front-line staff, employees have fallen ill or are caring for someone in need.

There are no shortcuts - only careful planning and a sufficient amount of time can prevent you and your business from becoming a bad sequel to the original.

When you decide to sell your business, you’re going to have to decide between a financial and a strategic buyer. Understanding the different motivations of these buyers can be the key to getting a good price for your business.

When creating a business plan for the purpose of raising capital, one key questions is "What is your exit plan?" Many business owners think that question is to let the venture capitalists figure when and how they will get a return on investment. In truth, that question is far more important.

If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of an organizational chart, or stuck in the middle of your business like a hub in a bicycle wheel?

Where do you sit on the doer vs. dealmaker continuum? On one hand, you have business owners who are really good operators with a plan and grasp for numbers. And then there are the dealmakers, owners who are always looking for the next opportunity. Is there a way to be good at both?

Cross selling new products and services to yourcustomers may be a great strategy, but if you want to increase the value of your business, the added revenue may not help your company’s value – and may even lower it.

Many factors drive your company’s value, but perhaps the most important is how your business would perform without you. To get your company to flourish, you need owner-like effort from your team by cultivating a vibrant culture.