Begin With The End In Mind: Creating Intentions
You’ve worked hard and have created a company that you are proud of. Even if you are not currently thinking of retiring or selling the business, you should always be gearing towards the end in mind.
How do you personal life goals and business goals align in the future? Is there a succession? Sale? ESOP?
In the most ideal scenarios, three years “out” from the transition date, there are factors to consider.
Form a transition team or a key operating team. You want to make sure you have the right people on the team, leading all aspects such as Operations, Finance, Accounting, and Human Resources. Incentivize the right people to achieve the conversion goals.
As a team, in preparing for pre-launch, improvements should be made for operational excellence, completion of a net proceeds analysis as well as performing a market or industry survey.
At Behney Management Services, we can assist you with the “end in mind,” and help you achieve your end goals.