We are often amazed at the amount of activity we see in January every year. It doesn’t take a lot of digging to realize why: the new year is a fresh start, the opportunity to accomplish goals, and the time to address things you’ve been putting off. Personally, I use the new year to remind myself to be healthy and appreciate what I have. Professionally, I used the new year to reflect on being intentional with my interactions, get organized, and to put together a personal plan for the year.
For many business owners, this is a time to:
- Begin a long and perceived onerous process of selling their business, OR
- Begin the longer and even more onerous process of working on their business to make it attractive for sale, so they can THEN begin the long and perceived onerous process of selling their business.
No, I’m not going to tell you that a journey of 1,000 miles begins with a single step, because you already know that quote… However, in our role guiding business owners through either of these options, we have found that the most difficult step is the first one: committing to make it a priority. They often delay because of lack of time or resources to dedicate to a process that requires both. Like many of us, they are too busy working in their business to work on their business.
It is very similar to dieting: what is good for you in the long-term is to adopt a mindset to eat healthy and exercise. But doesn’t that chocolate bar look good? How will that hurt to have just one to have that instant gratification? Exit planning is nothing more than adopting a healthy mindset for your business.
There are even more similarities: you can’t diet or exit plan half-way. You must commit to both, or you’ll fall back into your old routine. Often, it is better to hire a coach to motivate you along the way. We welcome the opportunity to be that coach (to be clear, we’re definitely talking exit planning in this context!)
The new year is the perfect time to tackle both dieting and exit planning. It’s good for you, once you begin, you’ll be glad you did and proud of what you are able to accomplish.