I was fortunate enough to spend time with a friend and business associate this week as he shared the story of selling his business and how he recently signed the deal and announced to a work force that the deal was done. This wasn’t a family business but I was struck by his journey and absolute clarity from the day he and his 2 partners formed the business.
Day one for them was spent shaping what each of them wanted in the future, so much so that they each created a visual montage of their future life once they’d sold the business – the business that really hadn’t even started yet. From cars to holidays and how time would be spent with family once a deal was completed in the future. Each of them had their picture of the future on the wall by their desk.
They also set out with a spreadsheet to calculate each year what the sale value might be – but only once they had each worked out the minimum figure they’d take if an offer was made. Between the three they had agreed on one figure based on thsi and that became critical 15 years on as they negotiated the sale. They exceeed this figure just a couple of weeks ago as they sold their business to Ernst and Young.
If you can really see something with absolute clarity it makes achieving it much more likely!