16 Sep Plan Your Next Vacation
A recent survey by The Sellability Score found companies that can perform well without their owner for a period of three months are 50% more likely to receive an acquisition offer when compared to more owner-dependent businesses. There is no better justification for taking a peaceful, uninterrupted holiday than to see how your company performs in your absence. The better your company runs on autopilot, the more valuable it will be when you’re ready to sell.
Summer is over, but consider planning your next vacation to gauge your company’s ability to handle your absence. While you’re away, you’ll want to leave your laptop at home and keep your cell phone off most of the time. This may seem impossible, but upon your return you’ll probably discover that your employees were resourceful and found answers to a lot of the questions they would have asked you if you had been just down the hall. That’s a good thing and a sign you should start planning an even longer vacation.
You’ll also likely come back to an inbox full of issues that need your personal attention. Instead of busily finding answers to each problem in a frenzied attempt to clean up your inbox, slow down and look at each issue through the lens of a possible problem with your people, systems, or processes.
In my next blog I will write about what you can learn and how to improve your company based on what happened when you were away.