2. They pay themselves a
regular income first
Paying yourself first ensures you
maintain control of what you draw
from the business in terms of tax &
allows you to work it into cashflow
3. They gradually de-risk from their business
Assuming it aligns with your business growth
ambitions, why not de-risk by moving assets over
to your personal balance sheet using good
planning (you know who to call)
4. They use any excess cash
You may need it for the business & equally, you may not!
So think proactively about how much cash you should keep in your
business and why. See previous slide for inspiration...!
5. They surround themselves with a great team
You can do anything.
But you can't do everything.
A great business owner surrounds themselves with
those who share their drive, desire and dreams.
Leaving them free to focus on running and growing
the business
6. They have a clear exit strategy
Don’t underestimate the importance of this!
By having a clear exit in mind, this makes you think about what you
need to exit for to achieve the lifestyle you want, how the business
would need to look to do this….and crucially provide a target / goal to
aim for….
7. They begin planning much earlier
There are ways to maximise the value of your business for
you, your family and your colleagues if you organise things
ahead of time….
Leaving until the last minute may mean you don’t retain as
much of the value you have created