Prepare Your Freedom Plan
Don’t think about retiring, but about liberating yourself.
Do you know how to make your business more valuable and give you more freedom?
The entrepreneur who sets up his business so that it does not require his active involvement to grow can choose to leave when and how he wants.
A business is worth much more when it has the following:
- a clear strategy;
- committed leadership; and
- sustained profitability.
Many of my clients start working on their freedom plan long before they retire, and without being clear about the timing, what they will want to do: hand over to heirs or sell. During the process, they also enjoy the company's management because it has a future business model, a serious involvement of the second line and numbers that allow them to profit from it. Despite not selling, the job is done, and therefore, they are the ones who choose when and how they leave the company in someone's hands.
That's freedom, and it goes beyond retirement.
And that's why, more than preparing for your succession (which you cannot know how it will be), you should think about how you gain freedom and enjoy the process.
Oriol López Villena 2022