“We don’t need you anymore.”
These five words can be a stinging rebuke if they come from a loved one, but if they come from those in the business you’ve founded, they can be golden!
Whether to spend time on other endeavors, for an exit strategy, or simply to maximize growth, building a company that can flourish without you is a fundamental business practice.
Creating ‘walk away’ wealth
Creating real “walk away” wealth is a prime reason to build a business that can thrive without you. It also prevents succession problems.
Many successful family businesses go bankrupt as soon as they are passed from one generation to the next or internecine strife tears the family apart when it’s time to make difficult succession decisions.…Continue reading