January 27, 2016
Typically owners of businesses like CNC machine shops put off thinking about the future of their company once they’re ready to retire, move on to a new challenge, or something unexpected happens. Let’s face it: few of us like to think about these things. We own our business because we like what we’re doing, we enjoy being our own boss, and we don’t want our success to depend on anyone else. We’d much rather focus on resolving today’s challenges, planning for growth and investing in new technology.
However hard it may be to imagine, the day will come when we just don’t want to run the business anymore, or are unable to do so. Sadly, if we haven’t planned for a future without us, everything we worked for could go down the drain. That’s why now is the time to ask some very important questions and use those answers to begin working on your exit strategy.
It’s a lot to think about, and a lot of work, but the reward is being able to enjoy the next phase of your life as you want to.