Your business is your life's blood but there will likely come a time when you'll want to sell so that you can relax and enjoy life, or move on to another pursuit.
Why did you set up your own business? Did you want more control of your business and your life? Did you think you would have more time – not less – to relax and enjoy the rewards of your hard work?
If you've found that you're working harder and longer with little time to yourself, then you're not alone.
No one wants to think about the worst, but the unfortunate and unexpected occurs all the time, and in the world of business, it is always better to be safe than sorry.
You can't plan for every calamity out there (and how could you?) but you can give your business and your loved ones some protection with a business continuity plan.
For many business owners, their business isn't just a business - it's their life.
Starting a business requires enormous dedication and perseverance, so it's no surprise that you may be hesitant to be less-involved after investing so much time, money, and energy to its success.
The truth is, taking time away from the day-to-day needs of your business can be beneficial to both your personal wellbeing and your business. Let us explain why.
The old approach to retirement looked at your working life and your retirement as two mutually exclusive things; one busy and active, the other a retreat into passivity.
As people now live longer, have improved health and different ambitions for the entirety of their lives, we're seeing a new world of planning for retirement, with new rules and new ideas.
With those things in mind, planning for retirement is very different than it was 20 years ago - and we think that's a great thing.
Growing, expanding or even selling a business involves specific planning, but they all depend on one thing - healthy business finances. For this, you'll need a separate plan.
Financial planning for your business not only supports its success and growth, but can also help you achieve your personal lifestyle goals.
Find out the three key reasons why you should consider it.
We understand how important your business is to you. It’s not just what you do, it’s a big part of your life and you’ve devoted hours, months and years to building it up to be the success it is today.
Owning your own business is a great experience; putting you in control of your destiny, and giving you the chance to do what you love with people you’ve handpicked, not to mention the financial benefits.
But there is one common pitfall we see often with our own clients – the difficulties you may experience when you want take a step back from your business.
Thinking about your options to exit? You'll know by now we're big fans of early exit planning. But selling the business isn't your only option - you could consider passing your business on to family or trusted partners when the time comes to leave.
It's a great idea if you do it right. To help, we've got some tips on what a good succession plan needs.
A valuable business is a sellable business, but value creation shouldn't be left until you're ready to sell - it should be built into your business plan.
Work now on building value into the heart of your business and when it's time to sell, you'll get the price you need.
We've got seven ways that can help.
Business owners tend to be fiercely independent, hardworking, and self-reliant. These excellent qualities, however, can become difficulties as time goes on.
Independence can become very lonely when it feels like the success of your business rests squarely on your shoulders. A hardworking perspective can mean long hours, while self-reliance can mean not asking for help, or feeling unable to ask for fresh ideas.
One way to navigate these difficulties is to consider collaborating with like-minded business owners.