The Price of Procrastination in Business Transitions
Procrastination: It’s a behavior that everyone agrees is rarely productive and yet, in some areas of our lives, we’re all guilty of it. When we procrastinate about taking out the trash or making dinner, the consequences are minimal and generally short lived. The price of procrastination in business transitions, however, is high and very often […]
An offer to buy your company: Is it an offer you can refuse?
Planning to transition your private business to a successor takes time and intentional perseverance. It takes time to clearly set the goals for your transition, time to paint a picture of the life you want to live after you leave your company, and time for your successor to learn to lead. Transitioning your company is […]
Reach Your Chosen Business Transition Destination With Your Relationships Intact
Believe it or not, tire alignment comes to mind when I see owners stuck between the reality of a business transition with its confusing number of options and cacophony of opinions and the ideal—a business transition that 1) meets their goals and 2) maintains their most important relationships. Mechanics align our cars’ tires so that […]
Overcome Obstacles on Your Transition Journey
Over the past 12 months, I’ve been working with the management team of a company whose newly designated successor / CEO died of COVID. While the death of a successor isn’t a typical transition obstacle, it, like many obstacles, can feel like a dead end. In this article we describe just one tool we use […]
Does Your Business Transition Keep You Up At Night?
Business owners often tell us that every time they think about transitioning out of their companies, they get stuck. To evaluate the severity of their “transition paralysis,” we ask: Does your business transition keep you up at night? The typical answer is something like “It’s hard to sleep when I don’t know which step to […]