Welcome to my weekly articles on business building. These weekly articles are designed to stimulate thinking about the process of creating a valuable business, about getting yourself personally prepared, and about getting your business exit ready and exit attractive for that future buyer. They are written and delivered in a progressive manner designed around creating a solid foundational basis for an owner to create an asset that has realizable value.
In this article I am following up on my last week’s article on the importance of goal setting by discussing how having an execution discipline for achieving the goals a business sets is critical to the success in a business. Without an effective discipline to execute and achieve the goals that a business sets, goals are just wishes.
Most owners get one chance to get it right and being ill prepared should not be an option, yet most owners cannot sell the business they built (only 1 in 10 are actually successfully) because they did not build a salable asset. If you must sell your business to fund your future lifestyle, ask yourself – do you want to be the one that does, or one of the nine who could not?