Is Your Business Held Back By Outdated Strategies?
Feelings, perspectives, attitudes, and goals change at a drop of a dime.
What were your priorities and strategies 18-20 months ago before the Covid chaos started. Could you have envisioned where you and your business would be today? Perhaps there are things you recognize you were not prepared for or something you would want to do differently. You may or may not have had a “plan” but likely were not actively engaged in planning, so you were caught off guard like many business owners.
COVID is hopefully a once-in-a-lifetime situation, however, it represents how quickly change can happen and how change can create ripple effects impacting many areas of your business, lifestyle, finances, family, employees, and community. Suppose you haven’t spent quality time with your advisors in the last three months discussing the impacts of change in areas such as:
Federal and state policy changes
Key leadership bench strength
Changes in family make-up or feelings about the business
If so, you have an outdated plan and will likely find yourself on your heels when the next fork in the road appears. And, on your heels means; you will be left in the dust by other businesses who have prepared and are able to capitalize on opportunities the market provides.
Read the article and then reach out to us to get some insights into your own situation. A few moments with us will provide you insight and clarity for your next steps forward. Contact Us
The Succession Planning Matrix
Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession Matrix.