As the video above states, the ultimate goal does not really matter. What matters is that there IS a goal.
With very few exceptions, setting a lofty BUSINESS financial goal - what i call a Financially Independent Business, often will accomplish any goal the entrepreneur may have for the business transition.
I define a Financially Independent Business as follows:
- A business that the owner can work in if they want, or spend their time doing charitable work, traveling, or whatever else is of interest to them.
- Can be easily sold if the owner wishes, or the owner can collect excess cash (dividends) that the business generates on a regular basis.
In short the business owner is in total control of their own lives. The business has trustworthy employees to manage it, work in it and grow it (and are financially rewarded for doing so), has strong cash flow and a solid reputation in the community and will survive on its own (The best examples are public companies, but the formula works for private companies also)
Your CFO Solutions can help you in setting these goals, as well as the interim goals necessary to gauge progress to the final goal. We will also set up reports to mark progress toward those goals.
Lastly, if the time comes to sell the business, we can assist with the details of putting the business up for sale.