Business owners who are over fifty years old are often interested to learn about options they have for leaving their business. They often want to know what steps they should take and to learn what the best steps are for them to take.
I was recently at a conference where after I told people what I did they kept referring my work to business succession planning. I kept correcting them to say that I did business exit planning as part of my work.
That’s right, we like change. Without change many of us would be out of a job or a business. The world changes and we need to learn to change along with it….not to far in front, but enough that we can take advantage of new things as they come down the pike.
Change is often seen as a problem. It always requires us to do things a little bit differently and often causes some inconvenience. It’s the inconvenience or un-comfortableness that often keeps from making the changes we need to make.
I’ve been a fan of the phrase perma-five for over thirty years. The term started as one where a business owner is stuck. Now, when I use it the term it’s usually around business owners not willing or able to think an exit from their business.
When you have a permanent five year plan on the same topic you are in perma-five. Unless you take specific actions around this issue, you will likely stay in this state for a very long time. The world might change and you could be rescued, but changes will likely come only if and when you change what you’re doing.