6 Tell-Tale Signs You Are Ready To Move On
I remember over a decade ago that I was beginning to consider leaving the company I helped to found 20 years before. It was difficult for me to visualize because so much of my life had been tied to the “blood, sweat, and tears” of building a successful business including great friendships. Like many business owners I intuitively knew it was time, with others around me probably more aware than me.
Based on our experience working with business entrepreneurs here are six signs that you are likely ready for a transition:
1. You’re not acting as a CEO and/or you are functioning as a disinterested, absentee owner.
2. You have withdrawn from your professional peers and you are not up-to-date in your marketplace.
3. You have already initiated your succession plan and you are planning for you next venture inside or outside of your market.
4. You do not look forward to going to your office and/or you are non-responsive to requests for internal assistance.
5. You refer to you internal colleagues more frequently as “they/them” than “we/us.”
6. You wake up one morning and say “it’s time.”
The above are not judgments about an owner, but they are part of the inevitable process of transition that is critical for the entrepreneur to recognize. Once recognized, you can purposefully move forward for everyone’s benefit, including your own.