I’d like to take a few minutes of your time. Let’s talk about your relationship with your business. So, what’s the plan?
If your business is in its infancy, you may be asking, “Whaaaaat? I’ve hardly started my business.” But, a business is like any other relationship. It requires attention and nurturing. Planning for every stage is preparation. It gives that business a foundation.
The time flies by when we are in the doing of it. The ups and downs of our relationships can result in things said, done and felt that are permanent. Plans provide guidance more often than not. When you started, you had an idea for the business that turned into part of the foundation.
Next up, you actually started the business just like you would start your family with a marriage ceremony. From there- your emerging business entered into a growth stage of development. All good, because of that sound foundation.
Maybe you decided to buy another company or investors became a part of your organization’s growth plan. In the family analogy, it’s like you started welcoming more people into your family.
Some of you have decided to keep your business to hand over to family or employees. For some of you, this business was really a job or a means to a lifestyle- all good.
BUT, for those of you who have decided to build this business by buying another business or by selling your business one day- this calls for a plan. A mergers and acquisitions deal, for example.
This deal may or may not close depending on how you set things up. Just like a marriage proposal, there is uncertainty in the transaction. Some of you choose not to prepare, and inadvertently doom your deal. Some of you choose to plan your proposal, and increase your chances of success.
A mature business, time has a habit of flying by, is like a family in other ways, too. If the business has grown, you may be preparing to “walk the aisle” of a closing. The moment has come to put that plan into action. As you walk the aisle, visualize it. Reflect on the life of your business, how do you feel? Are you ready?
