If you are a shareholder or owner at a privately held business, you need to set long-term goals for yourself and your business. Operating strategies must be developed that align with an exit strategy and culminates in a liquidity event or transfer of the business to family members or employees.
This is a long road to travel with no shortcuts. And it must begin years prior to shareholders wanting to cash out.
A committed team of lawyers, CPA’s, Insurance Professionals, marketing consultants and general business consultants must be assembled as the business grows and changes. Not all businesses need these professionals at the same time but they will need them all eventually. Knowing who to retain, at what point in the company’s growth and for what outcomes is difficult to assess when you are immersed in the business. This coordination can be facilitated by an experienced business consultant.
Arriving at your destination in the time frame that you desire requires planning and execution.
After all, you are working long and hard the the rewards should be available to you when you are ready.