Why should December be any different to any other time of the year for contemplating your exit from your business?
In one sense, it makes no difference at all – other than perhaps the number of articles that appear towards the end of the year urging you to think about what next and how the coming year might be different!
On the other hand, there are some practical and psychological reasons why this might be a time for assessing your next phase of business ownership:
- It’s the end of the calendar year and for some also the end of their financial year, so it seems an appropriate time to reflect and look ahead.
- You may have deadlines and demands to hit pre-Christmas commitments putting a lot of additional seasonal stress on the business and you as the owner. It’s natural to consider what it’s all for and will you get the rewards and conclusion you feel you deserve for the input you and your team are making.
- It’s winter, perhaps the most reflective time of the year, especially if the weather is particularly inclement. At these times we all look ahead to what’s to come in the New Year.
- Importance of family, friends and interests outside of business come into focus and with them comes potential conflict with the time commitment you are making to the business. You convince yourself that ‘just a phase’ but in reality, the challenge of achieving the right balance never goes away.
- Sickness and staffing challenges tend to be at their most challenging during the winter months; this only reinforces the responsibility you have to the rest of the team, your customers and partners.
From a practical perspective any time is a good time to take a step back and consider ‘what next?’, especially if you haven’t yet contemplated how your tenure as owner and leader of your business will come to an end. There may be some specific triggers at this time of year that bring this to the fore however this can also be a stressful period and so not the best time to consider big picture questions.
Whatever your situation having an exit plan will provide some certainty and direction. You can be assured that a conversation with us will facilitate both reflection and pragmatic planning.
(Image by wirestock on Freepik)