Are you satisfied? Because as a business owner, it’s important to ask yourself this question. In fact, George Bernard Shaw had an interesting perspective on the role satisfaction plays in life. He saw dissatisfaction as a driver of innovation, creativity and progress. He wrote:
You see things; and you say, ‘Why?’ But I dream of things that never were; and I say, ‘Why not?’
The Status Quo
There was a reason or opportunity that motivated you to get into business, then kept you going through the ups and downs. Over the years, you grew your business, made it better, implemented processes to make it more efficient and strived for more sales and more profit. Do you ever get to the stage where you say, “That’s enough; I don’t need to push or stretch any more?”
As you consider transitioning your business and preparing it for sale, are you satisfied with the way it is running? Is it a thing of beauty or are you putting lipstick on a pig? If succession planning is on the near horizon, then now is the time to start preparing. A successful transition takes years of focus to ensure the best outcome.
Many entrepreneurs will wrestle with these questions as they get closer to retirement. What’s driven you in the past is dissatisfaction with the status quo – a desire for something better, because there will always be something that needs to be done, so how will you keep the flame going?
It’s becoming increasingly common for people to reinvent themselves in a new career rather than retire. Will there be an itch to try something different once you do step away from your current business? What will you do after work? You can contact us for help planning your exit.
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