The success of exiting a business depends greatly upon the mental perspective of the owner during the exit process. Too often, business owners fixate their thoughts only on running their business. When, in fact, there is a tremendous amount of value in seeing the ‘big picture’ with your exit. In other words, what type of lifestyle would make you happy after you exit your business?
Prior to considering any of the various options for exiting your business, you must be able to recognize two key elements within yourself:
- Realization of where you are right now, and
- A clear vision of where you want to be following the exit.
As a successful business owner, you have created self-worth and profit for both the company and those around you, including your family members. In building a company, you have built a personal identity, perhaps the only one which is recognized by some family, friends, and business associates. Many owners, without properly considering their new, post-exit identities will be unable to successfully pursue a business exit because of their continued attachment to the business. In order to ensure a smooth transition, you want to be able to articulate both where you are in your business today and the personal challenges associated with getting you to where you want to be.
Seeing the “big picture” in your exit involves taking the time to reflect on goals outside of the business, exploring your personal financial and emotional goals/needs and moving forward to the next phase of life. As in so many aspects of one’s life, perspective is key to ultimate success.
Specializing in ethical, professional and personalized business brokerage and consulting services, throughout the USA for the last 30 years, Bottom Line Management, Inc. has assisted numerous business owners realize the best possible outcomes for the sale, purchase or exit from their businesses. For more information, guidance and superb results buying or selling a business, check out Bottom Line Management today! https://www.botline.com and 470-990-0160
Always remember to view your exit as an opportunity to a begin a new lifestyle instead of as a loss of your business identity. This will allow you to begin to explore your exit options, and, with the advice of the sound and wise advisement from business brokerage experts, like those at Bottom Line Management, Inc., you will be prepared and able to craft a coherent plan for a successful future. Contact Bottom Line Management today at https://www.botline.com and 470-990-0160!