In a recent conversation with a friend who was asking about our business, I shared with him that business owners "don't know what they don't know" when it comes to planning a successful exit and how ignorance can result in either procrastination or no action at all until it's too late. I went on to describe some of the severe financial and relational consequences due to inaction.
My friend's response was "That sounds like my brother who thought he had a cold but was diagnosed with double-pneumonia." He went on to explain how family and friends were encouraging his brother to get to the doctor for a diagnosis but his brother "knew better" and continued to resist their strong exhortations. He resisted until a few men that he worked with eventually took him to the hospital where he learned that he had double-pneumonia...which could have killed him. He was in a coma for a month and ended up having to be in the hospital for almost two months. Due to his lengthy stay in a hospital bed, he needed physical therapy to learn how to walk again.
This gentleman was confident in his own diagnosis while what he did not know, that he had double-pneumonia, could have killed him. With an early diagnosis, he could have avoided a near-death experience, a lengthy stay in the hospital, and weeks of physical therapy learning to walk again.
Business owners often "don't know what they don't know" as it pertains to planning their inevitable and eventual exit. Professional Advisors often hear from owners, "I'm not ready to begin planning because I'm not ready to exit yet." The owner may be aware of a "common cold" so to say, and not realize they're walking around with double pneumonia that could be disastrous for themselves, their family, their co-owners, and their employees.
Don't be that business owner who isn't listening to Professional Advisors who are strongly encouraging you to get "diagnosed" NOW. Listen to your advisors and act now to get an "exit readiness check-up" and create a plan before it's too late. You may have double-pneumonia and don't know it.
Get started today with this Free Exit Readiness Assessment.