Statistics indicate that “70% of business owners plan to leave or retire within the next 10 years. 52% of business owners have no succession plan in place.” Do you?
This is a frightening statistic for many. If you are a business owner your preparation for the next chapter of life includes not only personal financial planning and savings, but the recouping from your business asset. What? Yes, the business you have built for years and years is a valuable asset that you can now setup to sell to another to carry on the great products and services for your clientele. This sale provides you with the second financial plan for your next chapter.
1st Key area is to create or update your Business Plan:
1. Do you have an up to date business plan for the next 10 years?
2. Have you reviewed and updated your plan in the last year?
3. What does your next chapter look like?
Understanding what you want your next chapter to look like will help you be prepared and allow you to get excited about your next chapter!
Here is our Planning Club for creation of a business plan for business owners: http://www.businessedgecoaching.com/business-plans.htm
Beginning the process now, will allow you to be excited about tomorrow!
Cheryl Dyck, MBA, ISP, ITCP, IP3P
Certified Business Coach
Business Edge Coaching Inc / ActionCOACH
Coaching Consulting Training
Canada’s #1 Business Coaching Firm
Twitter: @cheryldyck Skype: Cheryl.dyck