As your business comes into its own, it’s natural to find yourself at a bit of a plateau – a place where you feel comfortable and, after all the stress that goes along with growing a business, where you may want to stay. That can be especially true if you’ve worked your way up from a place of scarcity. However, living solely in that new normal, without thought of growth or legacy, won’t help you to preserve what you’ve created.
What should you do when you’ve reached that point? It’s time to plan what happens to your business after you’re no longer the one in charge. Here are some questions to mull over when you're ready to take that next step.
If you’re in a business partnership, do you have an agreement about what happens if the partnership dissolves? What about if there’s a sudden death?
If you’re a solopreneur, how do you envision your legacy? What will happen to your resources? Will you leave or sell your company to your employees or family?
Those are big questions to consider, I know. But it’s important work – don’t let the future just happen to you. It’s best to have these plans in place so that your resources, your wishes, and your legacy are handled in the way you intend.
Have you considered your future plans? Start small. Pick one question and figure out what you need in order to get it done. If you’re stuck and would like some help working through this process, reach out to us via our contact page.