An Intro to Protecting and Growing Your Business

Some thoughts from Joe Sciabica...

We often hear about 2 things in life that are certain; say them with me: death and taxes.

But as the owner of a business, there is at least one more certainty: that you will leave your business someday. What's more, our experience has been that even though it's a 100% certainty, most entrepreneurs haven't taken real steps to prepare for it.

What gets in the way?

There are several things; among them are:

? Few business and financial professionals deal specifically with this issue.

? It's incredibly stressful because it often involves the biggest transaction of your life.

? In addition, family dynamics frequently add to the anxiety.

And so, for a lot of owners, it's easier to put it off and just focus on running the business.

Consider that there is a path to confidence that can help address all the above concerns, and more. It contains three primary steps:

1. Protect – if the business is worth such a significant part of your net worth, then how can we protect that value?

2. Grow – if your employees are the business’ most valuable assets, then how can we grow the value of the business by leveraging their strengths and talents?

3. Exit – this is where all roads lead, and how you realize the full value of what you've built should be on your terms.

Over the next several weeks, we are going to expand upon each of these steps, and we expect to provide you with some valuable ideas to consider and implement.

For now, consider that where most business and financial advisors focus on growing your net worth and your business equity – increasing the value of your assets – is only one way to increase value. The more powerful way to increase the value of your business is to do so by optimizing your cash flow. Whether you choose to ultimately sell to someone on the inside of your business, someone on the outside, or own it until you die, better cash flow management will play a critical role in the success of all 3 potential outcomes. There is no best option; it's important to have your first choice, but also be prepared to go through the other doors as well, because you don't always get or want your first choice.

So, with that, we have a question for you to consider…

Imagine that you were reading this 5 years from now, and you’re looking back on your business and your life. What are some things that needed to have happened in order for you to feel totally happy and totally confident about your progress?

If you’d like to talk that through further, feel free to reach out to us; we’ll be happy to schedule some time to brainstorm, and maybe even dream a bit…

2024-177144 Exp 6/24/2026