Planning For What’s Next: Partial Exit of the Business
What does it look like when we slow down on business
At some point you’ll want to slow down in your business. The 90 hour weeks that many business owners face just gets old.
Or maybe you are past all that and you want to do things in life other than run your business. Gasp!
What does it look like when you move past being the only owner of your business?
As a long-time lawyer and business consultant I can tell you some of the things you’ll need to take into account as you think about the next stage of your business when it may be time for you to slow down.
Even if you aren’t ready to slow things down, yet, knowing what might be in your future often can help.
A Lot Of Things Changes When You Aren’t The Only Owner
Many of the dynamics change when you aren’t the only owner of the business. Whether you are giving some equity to a senior leader, bringing in an outside investor or roping in the new generation of family a lot changes when you bring in another owner.
Some business owners swear they will never bring in another partner. I personally think that partnerships can be very good. Done correctly they’ll…
