Executive Strategy
Plan a Business Cycle Ahead to Set Your Business Up for Success
Every company should have plans for when business is booming and when business is struggling.
The same factors that were bumps during the business cycle ascent in 2021 are now helping position us for a soft landing ahead.
Guest article provided by Scott Bushkie, Managing Partner and Founder of Cornerstone Business Services.
I’ve found that too many people put their business on the market because they’re reacting to a trigger – and it’s usually not a positive one. In the rush to sell, they miss out on these critical steps that could make their transition easier, more valuable, and more fulfilling.
For business owners, their business is likely their largest asset, usually tying up 70-90% of their entire net worth. However, most do not have a current valuation of their business and do not know if an eventual sale of their business can support their goals for life after exiting their business.
There are almost endless consultants (private and government backed) who will help you start a business, write a business plan, or create a strategy for growth. But very few help you figure out how best to “finish strong” or sell your business.
My goal in writing my book “Finish Strong” is to help you with that very important last step of your business journey. Exiting your business will likely be the largest financial transaction of your life. I want that transition to be something you can be proud of – something that meets your financial needs, ensures your legacy, and sets your employees and your business up for success for many years to come.
Accompanying the “Finish Strong” book is a workbook with exercises that will bring light to the many questions around your eventual exit from your business. The reason I created this workbook is because too many people (including myself), read a book, get a bunch of good ideas, then put the book down and never implement a one. At the end of the day, that doesn’t move the needle forward. In creating this workbook, my hope is that you’ll take the time to complete each exercise as they’re set up for you.
You spent years building your business and fulfilling your vision. Be confident you took all the right steps as you make what is most likely the largest financial transaction of your life.
