For most businesses, their value is based on its equity which is usually determined by the value of their assets minus their liabilities. A simple PnL report allows many business owners to quantify what their company is worth… in dollars. And this typically makes sense due to the fact that
Family business owners started their business for a reason. Maybe they were seeking freedom and found a business as a tool to offer it. Possibly they had a skill, a product, or an offering that others needed that they felt compelled to deliver. They could have sought to break the
Stress is a common denominator for many business owners, and family business owners begrudgingly likely carry even more. I’m sure they’d happily trade in their headaches and neck tension for more clients and sales. And while that trade out is possible, unfortunately it isn’t a simple one. Stress is inevitable.