Building a Management Team
The largest investment in many entrepreneur’s retirement portfolios is the value of their own business. That’s a good news, bad news scenario.
The largest investment in many entrepreneur’s retirement portfolios is the value of their own business. That’s a good news, bad news scenario.
In other words, when do you plan to exit your business so that your business valuation and personal wealth are maximized and you’re still healthy enough to enjoy your life and family?
As you can imagine, the last two places aren’t very good. In fact, the National Post published an article I wrote on succession planning a few years ago, and they put in a picture of a hearse.
Many business owners think their position of owner-manager is a single position. It’s not. It’s two positions that are unrelated. Many problems occur when the owner thinks their status as the owner increases their skills or effectiveness as a manager
Audience Notice: CPAs and CFOs who want to bring this kind of work to their clients: visit Symco Growth Group. Bankers: I'm always glad to talk about a mutual client.