Tag: exit plan

Designing the future ownership of your business

Been having a lot of discussion lately about what the next generation of the business will look like. Who will run it, who will work in it, what kind of work we’ll be doing, and how we’re going to adapt to stay current. Wondering if you have any recommendations on what to consider, and how to go about planning for the future.

Thoughts of the Day: Thinking about the future is critical to ensuring success. Do a critical needs analysis. Make a plan that describes where the business goes next, and how it gets there. What problems are people trying to solve and how can you make things easier? Deal with the reality of limited workforce availability. Consider ESOP as a model for future ownership, if your company is strong enough.

Stop Reacting and Start Planning

Seeing us – me, my employees, my managers – get bogged down with day-to-day issues. Know that as owner I should be planning and directing where the business is going. Realize that I can get myself in trouble by…