Did you know only about 20% of all privately held companies put on the market each year successfully sell? Only about 30% of all family businesses in the U.S. successfully transition from their first to second generation, and an astounding 75% of all business owners who do sell their companies profoundly regret the decision one year after selling. This regret is commonly because the former owners have not received the true value of the sweat equity they invested in their businesses and tend to experience significant wealth gaps post-exit.
Far too many business exits end up failing because of a lack of planning. Business owners need to have a plan in place for how they will walk away from their businesses. A properly planned and executed exit can handsomely reward a business owner for the time, effort, and energy that they invested in building their business. It also benefits the many employees who work in the business and the customers they serve.
At chiefexeccoach, we guide our clients through this complicated maze of critical decision points to create even greater business value.
- Legacy planning to clarify your personal Mission, Vision, and core Values and determine your priorities and key goals for the future
- Assessing the business’ current operations and organizational health in line with your corporate objectives to mitigate potential risks
- Laying the foundation for accelerated growth by optimizing your business through focused performance improvements that drive greater efficiencies
- Creating new revenue streams and driving strategic growth through enhanced sales and go-to-market strategies to dramatically scale your business
- Developing your business succession plan and grooming your next-generation leaders to step up as you define your longer-term personal goals and begin to step out
Whether you plan to exit your business soon or are simply starting to consider it, the best strategy is the one you begin today. Let us guide you through a targeted discovery process and assist in developing your near-term action plan while you are still in control of your future. The longer you wait, the more likely your life circumstances and market conditions will change!