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One
of the largest reasons that most small business exit plans fail is the fact that
the owner is such a key to the business. Many companies, even those with 100 or
more employees, are still run with a strong leader at the helm that is basically
irreplaceable.
Even
if your business relies heavily on you today, there is no reason that you can't
begin the process of training and delegating that will allow your management
team to take on more responsibility. You will find that with these people taking
on more of the load, you can actually relax a little and take some time with
your family.
Buyers
are looking for strong turn-key management structures, quality management
personnel, and systems and processes that can make ownership transfer feasible.
Building these into your business will not only make the company more attractive
to potential buyers, it will provide you with valuable peace of mind.
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