What is the "Exit Factor"?

Often The “Elephant In The Corner”
An “elephant in the corner” is, of course, any situation which is very obvious to a group of persons but which is not being openly discussed. The “elephant in the corner” in many businesses is the question of what will happen to the business when its present key executive/owner(s) moves on, whether planned or unplanned.  

Regardless of the extent to which this topic is discussed, it is nevertheless on the minds of the many constituencies impacted by the success and operations of your business.  These constituencies typically include yourself, your spouse, your children, your other key employees, most of your employment staff, your franchisor, your banker, your main customers, your key suppliers, your key advisors, and your local community.

How well you have dealt with, planned for, openly discussed and specifically addressed the various concerns of these constituencies regarding your future exit has significant direct impact not only on yourself and your immediate family, but also on your business today and into the future.  This is due to the differentiated concerns each of these constituencies consciously or subconsciously bring into your business.

The Exit Factor
We refer to the collective seen and unseen impact of the exit concern on how these constituencies deal with your business and with you as the “Exit Factor”.  Just as the saying goes “all politics are local,” it is equally true that “all business is personal.”  Each of these constituencies have their own personal reasons for their concern with your future succession or exit.  This does not mean they are concerned only with themselves, but simply that they will have an interest in your business that will reflect their unique circumstance.

Even Tiger Has A Coach
The fact that you are reading this website about how to exit your business would normally mean you had a lot of success in building, owning and operating a business from which you have the potential to exit from.  Running any business today involves a high degree of specialized knowledge, intestinal fortitude, mediation skills, insight and vision.  Yet, this does not mean you are an expert in everything.  Transition Growth Planning tends to be one of those areas for which business owners look for assistance.

Even Tiger Woods has a golf coach.  Reading a book on how to play golf may help you to play and understand the game better, but it won’t make you a professional golfer.  Likewise, reading a book on Transition Growth Planning will help you understand the exit game.  Don’t expect it to mean you should “go it alone” in planning to address your Exit Factor. 

The Next Step For Business Owners Transition Growth System is intended instead to provide you with an interactive set of tools you can use to design your own Transition Growth Plan.