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Six Misconceptions About Business Valuations

When do you need to get a business valuation?
Many exit planning books, websites, and advisors recommend getting a business valuation as one of the first steps in exit planning, if not the very first step. At NAVIX, we disagree. While business valuations are a critically important tool in certain situations, business owners should not rush into getting a valuation without careful consideration. The following six misconceptions explain why.

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9 Reasons to Unplug for Two Weeks

If you are like many business owners, you love what you do. The steady stream of challenges and rewards that come with successfully leading and growing your company are one of the best reasons to be an owner. Additionally, you probably are good at what you do. If you were away from the company for any significant length of time, the business might suffer without you. For these reasons, few owners schedule extended time away from the business. Why spend time away from the company, when it is something you enjoy and being away could undermine its growth?

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7 Mistakes Business Owners Should Avoid When Discussing their Future Exit with Employees

Business owners often struggle with how to talk with their employees about their future exit. Most owners want to be straight with their team but talking about exit feels taboo. As one owner said, his exit plans felt like “a dirty little secret” that he regretted keeping from his team. To some degree, that sentiment is common. Yet, having exit goals and plans is not dirty and should not be kept a secret.

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14 Reasons Not To Share Ownership with Key Employees

Many business owners consider at some point sharing ownership of their business with one or more key employees. Sharing ownership can create powerful advantages—retaining employees for the long-term is usually a top motive. Sharing ownership appears to elevate top employees into a true partnership with you in the ongoing effort to grow the business.

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Two (Surprising) Reasons Why Owners Need an Exit Plan

Why does every business owner need an exit plan? Can’t you just focus on building and growing an excellent company, and the rest will take care of itself?

Ultimately, there are two reasons why just building a strong business is not enough to be assured of a successful exit. These two reasons, based on my experience, best explain why every business owner needs to create and follow an exit plan—years before you intend to exit.

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