Emergency business succession planning prepares your business for changes due to unforeseen circumstances such as illness, accidents, or sudden departures. This proactive approach ensures that a business can maintain continuity and safeguard its operations during challenging times. By identifying key personnel, establishing clear protocols, and facilitating knowledge transfer, businesses can minimize disruption and uphold stakeholder confidence. Effective succession planning not only protects the company’s assets but also reinforces a culture of resilience, ensuring that the organization is well-equipped to navigate transitions smoothly, regardless of the challenges that may arise.

Have you ever wondered if all your hard work will actually pay off some day? An annual business valuation acts as a clear indicator of whether your efforts, investments and sacrifices are yielding long-term value.

When you hone in on where inefficiencies exist and improvements can be made your growth plan becomes more focused and effective. Your growth plan becomes a Value Acceleration process that increases value, wealth and profit.

On this episode of It's Your Business brought to you by the #BoldBusinessPodcast, Christy Maxfield and Jess Dewell talk about negotiation as an essential business skill.

Negotiation is a critically important communication strategy that all successful business owners are encouraged to practice to achieve the best results that fulfil their profit, wealth and value goals.

Savvy, future-focused owners see their business as a means to take care of their community and fulfill their personal and financial goals. Explore how owners can increase their business’s attractiveness by ensuring it’s ready to take on what's next. During this session you will create a thorough exit plan that accelerates growth and reduces owner dependence.

• Discover how to meet your goals before you retire

• Identify profit, value and wealth gaps to increase value quicker

• Understand what makes your business attractive to buyers and heirs

Want your business to grow like weeds? Think again. Purpose First Advisors helps business owners design intentional growth strategies with the end mind. Being exit ready means growing smart. Growing smart means understanding how your growth plan allows you to achieve value, profit and wealth goals.

Imagine being able to achieve anything you set your mind to, not because you have more hours in the day, but because you use the ones you have more effectively. This is the central theme of this episode of It's Your Business brought to you by the #BoldBusinessPodcast.

We all experience stress and periods of unproductivity. However, these can be minimized—or even avoided—by changing our relationship with time. By embracing what you can control and reframing your approach to productivity, you can create significant shifts in how you use your time to reach your personal, financial and business goals. This could mean saving time, finding time, or even bending time by making decisions with time as a key resource constraint.

Consistency is the foundation of business success. It's the steady, persistent effort that propels your business forward and transforms your dreams into reality. Yet, fostering consistent action can be a challenge, especially in the face of distractions, setbacks, and competing priorities. In this episode of It’s Your Business brought to you by the #BoldBusinessPodcast, we explore strategies for cultivating consistency and achieving your most ambitious personal, financial, and business goals.

Bridging the gap between knowing what to do and actually doing it requires intentional effort and mindset shifts. By breaking down barriers, creating implementation intentions, embracing imperfect action, seeking accountability and support, and celebrating progress, you can overcome inertia and move closer to realizing your business growth and value creation goals.

Employees who feel burnout are going to find ways, often subtle ways, to keep more things from getting put on their plate.

This includes making the effort to upsell customers, slowing down on prospect follow-up, and offering clients fewer product/service options. Everyday choices that help employees cope with their workload and manage unrealistic expectations can slowly and quietly your slow your business growth even as you work furiously to increase customer and sales volume.

Developing an exit strategy may seem like a future ‘to do,’ but its benefits extend far beyond the transition.

Having a current strategic plan that focuses on both increasing income and building company value provides clarity, direction, and peace of mind, allowing business owners to navigate the complexities of transition with confidence and foresight.

Investing time and effort into crafting a well-defined value-to-exit strategy is an essential business planning discipline that keeps you focused and consistent.

A business exit strategy is an owner’s plan for how you will transfer ownership of your business.

It’s a roadmap outlining the steps to be taken to transition out of your business while maximizing value (for you) and minimizing disruption (for employees and customers.)

Exit strategies are typically developed well in advance of your actual exit and may involve several transitions and transactions at different times.

Know what your business is worth to

1. manage your expectations about how much a buyer might pay for it

2. understand how much a sale could contribute to your retirement or next venture

3. identify what you can do to increase near term revenue and long term value to maximize your choices and flexibility

Build a successful, profitable business without sacrificing your mental and physical health, marriage, relationships, financial wellbeing and spiritual wellness. By making choices and prioritizing, you get to focus on being consistent (way more important than discipline) in how you use and manage your energy to understand and focus on doing the things that create the most value for you and your business. A combination of processes, automation, routines and learning from actual results helps you make better, faster decisions, and grow confident in your ability to get the most out of the work you do rather than doing the most work.

Business owners have a love/hate relationship with their business. Finding ways to love your business makes it easier to grow a profitable and sustainable business with intention and purpose. Explore three easy habits to help you be a happier and more satisfied business owner.

There are 11 things business owners can do to end the year strong and start the new year stronger. Use this time to orient, reflect, learn, plan and reorient for action. Position your business for a great 2024 by planning and growing on purpose, with purpose.

There are 11 things business owners can do to end the year strong and start the new year stronger. Use this time to orient, reflect, learn, plan and reorient for action. Position your business for a great 2024 by planning and growing on purpose, with purpose.

You wear a lot of hats. You are a manager, owner, investor and family member. And each role demands different things from you. Here are five steps to aligning your many roles to reduce conflict and increase prosperity and joy for you, your family and your business.

Can I sell my business? Great question! Exiting your business on your terms requires planning. Creating a business that generates value for you as the owner and someone else - heirs, management/ownership team, third-party buyer - doesn’t just happen. In fact, according to EPI, 70% of businesses that go to market don’t sell, so there’s no time like the present to start assessing your readiness and attractiveness so that you have plenty of time to build the value of your business long before you want to transition ownership.

We need to talk about pricing, profit and paying yourself. Small business owners struggle with how to price their goods and services, how to generate a profit and how to take home the money they deserve. The good news is, you can control all those things.

There’s way too many metrics for any business owner to keep track of them all. Which is why you have not know what metrics matter to you and your business so you know what KPIs to track and what information will help you make better decisions to hit your revenue, expense and profit goals.