Success means building multiple exit options before you need them. Retirement, selling to a buyer, or recapitalization: the more pathways you create now, the better choices you'll have later.
I'm thinking about the connection between the word success and succession and really planning for success. And this idea that it's not necessarily an exit, but it gives you the option to prepare for retirement or to sell to some third party or to bring in recapitalization or whatever it might be. And so often, like I've heard the phrase many times, that quality of choices or quality of choices comes from quantity of options. And so if you haven't taken the time to develop multiple options for yourself, then you only take the one you got, and that might not be the best option. And, but if you do take the time to plan and think through different things that could happen or that you want to happen and be intentful about where that plan takes you, then you have a lot more options and you're prepared for many more eventualities.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
