To build a family valuable business and reach the freedom point, family business owners need to smartly plan to do the following:
- Define specifically the destinations for both business and personal. Family business and personal goals and objectives must be specific to be terrific. Where are you now? Where do you want to be and when?
- Plan comprehensively how to close the gap for reaching both destinations. Combine and coordinate the planning process for building family business value and sellability with personal wealth building.
- Monitor and measure regularly the progress and make neccesary adjustments to ensure reaching the Freedom Point. Tracking and rerouting as needed your journey along the way ensures reaching your Freedom Point successfully.
Family business owners at some point face two difficult choices: when to sell the business and at what price. Selling your business may seem far off into the future, but if exiting your business now would give you the financial resources to do whatever you want, whenever and wherever you want, it may be worthwhile considering sooner than later.
What is Your Freedom Point?
To help you as a family business owner determine whether you’ve reached The Freedom Point, we’re offering FREE an eBook, which offers a simple methodology you can apply to reach financial independence – what we call The Freedom Point. You may be closer to a carefree life than you think.