Waiting until you’re 'ready' to pass down your business is...too late

Thinking about the next 10 years or ‘when’ you’ll be ready to think about handing over your business to prepare for that event is like waiting until the day before you hand over your house keys to its new owner to paint the walls, fix the leaky faucet and renovate run down bathroom. It’s too much too late.

And, consider what you could be leaving on the table by doing so?

You could be passing up, with some adjustments, a beautifully run company that actually reduces your headaches.

You could be passing up additional value in the business by not having some of its functions running more smoothly with a little TLC. AKA leaving money on the table.

You could be passing over obvious headaches to the new owner but that existing employees and customers still have to deal with, jeopardizing retention.

The belief that ‘getting ready to pass’ down is reserved for the actual event is actually robbing you of more money, more joy and likely more stability now.

One of the secrets to being an attractive company to run and purchase? Read more here.