Climbing the Stairs
While in California recently for a conference with way too many people in sweatpants thinking that climbing stairs (even on your hands) is fun, I found myself staring up the infamous Solana Beach steps, wondering if my knees were about to file a formal complaint. About halfway up—I had a realization: this is exactly what building DS Strategies & Consulting feels like.
I have worked with business owners for decades. I have sat with folks making big decisions, guiding them through exits, sales, and successions, and helped them build strong foundations in dealing with these transitions.
All along I thought I knew what it meant to operate a business after working with so many business owners. But let me tell you, starting one from scratch is a whole different story. Between setting up systems, making sure you have the right insurance, figuring out taxes, and finding software programs that “speak to each other” … registration of entities, hiring professionals … I have a new level of respect for every entrepreneur out there. So, this is a new appreciation I want to share with all my former clients!
The care, feeding, maintaining, and growth of a business is a climb, plain and simple. And just like those stairs, there are days when the top feels far away to me. But every step brings a lesson. Some are about structure and planning. Others are about patience and humility. (Mostly humility.) But I believe in this work and the people I get to serve, and that makes the climb worth it.
So, if you are out there building something of your own—whether it’s a business, a legacy, or just a life that means something—I see you. Lace up (hockey analogy). Keep climbing. We may be at the bottom of the stairs, but we are moving up—one step at a time.
Cheers,
Dave
The 7 Steps of Exit Planning
That climb up the Solana Beach stairs must have made more of an impact than I thought— I keep coming back to those steps as a perfect metaphor for transition planning, be it business continuity planning, succession planning, business growth, merger or acquisition and exit planning.
As to Exit Planning there is a 7 Step Exit Planning process I look at. And those 7 steps are not just a checklist you breeze through in an afternoon. They are a progression. A climb. Each one builds on the last, and missing a step—or skipping ahead—can leave you winded, off balance, or right back where you started. Sound familiar?
The 7 steps include:
- Identify Your Objectives
- Determine Your Personal and Business Resources
- Maximize and Protect Your Business Value
- Transfer to a Third Party
- Transfer to an Insider
- Plan for Business Continuity
- Develop a Contingency Plan for Your Family
Seven steps. And every one matters. When I am collaborating with clients, I often remind them (and myself): you do not get to the top by accident. You get there with a plan, some sweat equity, and someone walking the stairs with you.
So, whether you are thinking about your exit in the next year or ten years down the road, let’s start the climb now. Let’s take it one step at a time—together.