How far in advance of a major transition, like an M&A transaction or family succession, should business owners begin to plan? Two years out would be great. Starting on day one of the company's existence is even better! Unfortunately, though, very few owners/founders allocate the necessary time, financial resources, and energy to planning for these types of transitions, i.e., to what are commonly referred to as exit strategies.
This an introduction to ultimate concepts and practices that center on legacy, responsibility, and cultural values - those aspects of your business that live outside the world of dashboard metrics that I broadly refer to as the ultimate Ownership Experience OX.
I coach business owners through the psychological aspects of transitions- primarily, mergers, acquisitions and family succession issues. I've sold a business to a Fortune 1000, so have been at the table both as a seller and as a coach.