Loichinger Advantage

A month ago, we turned the calendar page on a new year. By now, we have all read and considered countless suggestions on how best to resolve to change our lives, our outlooks and our waistlines.

Today let’s take a hard look at how we can change our businesses in one simple way: avoid the mistake we made last year and in every year before that: procrastination. Specifically, if all owners know that someday they’ll leave their companies, why then do they do nothing to plan for that day?

I have recently had very meaningful data shared with me this week that caused me to pause and think.  The number of businesses that fail every year.  The number of start ups that never make it.  The number of business owners who will want to leave their business but can’t.

This morning, I facilitated an exit planning briefing along with my business partner and our guest speaker, John H. Brown, president of Business Enterprise Incorporated (BEI).  John started the session with some of these demographics.

• 1.2 million business owners have 10 or more employees today.