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Dec 6, 201801:01 PMExit Stage Right

with Martha Sullivan

The state of Wisconsin owner readiness is … mixed

(page 2 of 2)

Like the respondents to the survey, these owners delayed preparing for their exit. This analysis and conversation should have taken place years ago, so they had enough runway to take flight. Instead, they are destined to be disappointed in the outcome. The company will sell but it won’t be the deal they wanted.

The survey concludes, “many business owners don’t know what they don’t know.” In the absence of knowledge, they risk finding themselves in situations like the five owners above. Maybe there’s time to react, adapt, and improve, but sometimes there isn’t.

Herein lies the opportunity though for Wisconsin owners. As many as 76 percent of us want to transition our businesses in the next 10 years, and 46 percent of us within the next five. Time is of the essence, so:

  • Read the survey (www.ownerreadiness.com);
  • Take it to heart;
  • Get educated on what creates and drives value in your business;
  • Learn what it takes to set the stage for a well-crafted and successful transition (regardless of your timing);
  • Build your plan; and
  • Act.

Get ready!

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