Knowing which you are is important for a future successful company sale
We see three types of company owners – all are smart, all are driven to succeed but not all 3 will command a premium valuation for their business when the day comes they hope to sell to a third party.
Ask yourself, which of these 3 types of owner/CEO describes you:
- Owner/CEO that thinks tactically, isn’t asking the right strategic questions about their industry and business.
- Owner/CEO that is a strategic thinker, identifying questions they should answer about their business but don’t – they know they are kicking the can down the road on getting answers to strategic questions and executing on potentially tough decisions.
- Owner/CEO that thinks strategically, asks the right strategic questions about their industry and company and searches for the answers and makes the tough execution decisions.
We see a big difference at time of company sale in the premium valuation that owner #3 above commands for their business versus the other two. Conduct an honest self-assessment about which of these types of leaders you are. It’s not just important for you but it’s important for your family, investors (if you have any) and even your employees because you want them to have a good workplace to continue when the day comes you exit. Give us a call as we have templates you can use to help you think more about this and help to move you to being the strong strategic thinker and strong leader of your team for solid implementation.