For many business owners, creating an enduring legacy is an important goal at exit. Legacy should reflect the owner’s sense that he or she is leaving behind positive, lasting outcomes for the business and the people it impacts. But how do you create a business legacy when it is hard to measure? For this reason, many business owners struggle with getting their arms around their own legacy aspirations and feel good about their outcomes.
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The following case study is based on a true story. It highlights the importance of co-owners in a business recognizing their exit objectives may not be aligned. Owners need to plan their exit years prior to the event and work with an experienced team of advisors, like our NAVIX Consultants.
Download The Story of The Paralyzed Partners Case Study (PDF)
Watch the video and download the complimentary checklist below.
Growing your business and creating value within your business are not the same thing and can be very difficult to accomplish simultaneously. The challenges of growing the business successfully are usually the owner's main focus. Yet maximizing the business value is of the utmost importance so that it is attractive to a potential buyer or successor at time of exit. This short video explains the difference between growth and value, and why it is necessary to create both within your company to achieve a successful exit.
Retirement plans are often viewed solely as a benefit provided to employees. However, in many situations retirement plans can be designed to provide substantial benefits for the business owner, particularly in the years up to and even after the owner has exited from the business. Here are the top 10 benefits all business owners need to know about retirement plans.
One of many famous quotes from Albert Einstein is, "If I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it." Einstein wisely recognized that solving a problem starts with properly identifying it. This insight has great value for business owners. If owners do not properly identify a problem or challenge in their business, they likely will not use the right tactics and solutions to get the desired job done.
