02 Jun You Don’t Have to Leave
You don’t have to leave.?One benefit of succession planning is that an owner is working to build a business to succeed without his or her daily involvement. It’s based on what an owner wants to achieve.
Perhaps you have a vision of leaving your business completely in 10 years, work part-time in 5 Years and/or you plan on staying, in some capacity into your golden years. Regardless of when or if you even want to leave your business anytime soon, by beginning to plan now, will allow you to have a business that can operate without your daily management & provide you with more personal freedom to pursue other goals & activities.
The business owner who plans for their future is creating a business that can operate successfully without them. By owning a business that can operate without your daily involvement, you can pursue other personal endeavors and achieve a sense of freedom that you may not have previously felt.
And, if you don’t want to retire…..just re-wire!
If you want to remain in your business forever, mentoring may be the path for you; the process of transitioning from the daily decision maker to the long-term trusted advisor of the business. Remember, it is what you define as business ownership independence and perhaps for you that may be phones call each week or a trip into the office once or twice a month. There is no incorrect defined independence, only your definition of what business ownership independence means to you. Remember, no two business owners are alike and each definition of freedom is different from the next.
But, today is just as important as tomorrow…..begin the process of defining how you plan to someday become independent from your business and how your business will become independent from you.
Remember, you set your own path as a Business Owner-thought provoking, trendsetting, hip….take the time now to set a new trend, define your independence and the relationship you want to have with your business today, tomorrow or 10 years from now.
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