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Who Does What In Your Business, and Why?
13 July 2011
The fact is, if you’re at the stage in your business that is OK for now, but you’ve come to realise it is not what you want to be doing for the rest of your life, that’s the time to start planning your EXIT.
You wouldn’t want your family to see you all stressed and unhappiness levels escalate because you’re stuck doing something you no longer want to do. BUT you know you’ve spent too much of your precious resource – TIME – on this little baby to not get some sort of payback. What to do? It might be time to get you out of the way…
Thinking of the typical \"departments\" of a business, and who's name features in the org chart boxes, maybe your's looks like this:
Management = YOU
Marketing = YOU
Sales = YOU
Operations = YOU
Financials = YOU
(Mentor = the entrepreneurial mother® of course! :)
If your name features in all the boxes, if your Business solely focuses around YOU and selling it is was what you eventually want to do, then it’s time to put new names in the org chart!
The type of business a prospective buyer is most interested in buying is one that is stand-alone from the owner. If your Business resembles the image above, then a sale is not as easy as one where another can just walk-in and take over. That’s not to say it can’t be sold, but it is not as straightforward.
Maybe you are interested in “going with the sale” for a period of time, whereby you gently handover the reins to a new rider! If you’re one that is already over your Business, and has moved on to do the next BIG thing in your Life, and cannot now entertain the thought of staying with it any longer… that’s a more difficult arrangement to be sorted. It is still doable however; if both parties are keen to make it work. Details like these are all negotiable.
Starting with the end in mind TODAY, regardless of how old your business is, means you can start to, slowly but surely, systemise your Business so you can replace your name in each WHO box of the org chart, to better convey that the Business is a stand-alone asset and not totally reliant on any one person…
the entrepreneurial mother® specialising in EXIT Execution Excellence!