I was recently having a conversation with Jim Gitney, the CEO of Group50 Consulting and he was talking about the Inflection Point of one of his clients. The company is a 2nd generation manufacturer, who is in a significant growth mode. Mom and Dad still own a majority of the company, with 2 of their 3 children running the day-to-day activities. This company has hit an inflection point with its growth plans though. Their systems, people and processes are strained (more…)
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Inflection Point and the Wealth Effect – 2 Strategies
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You’ll Exit at Some Point—Are You Ready?
If you are like most business owners, your days are fast-paced, your activities varied and your time precious—it’s likely that you are among the 87% of owners who have no written exit plan. Yet, despite the value you’ve created in your business, you will exit at some point and need to figure out how to reap the fruit of your efforts while leaving a successful, ongoing business legacy.
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Exit Planning Readiness Test
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Exit Planning or Transition Readiness Survey
Exiting the business you have built can be taxing. It means giving up what you have created: or does it? Many founders are choosing to transition to a new role in their business doing what they love to do, rather than exiting. Regardless of your thoughts, 90% of business owners don’t have a plan and haven’t done the necessary exit planning. How ready are you? It is an emotional decision (more…)