M3 Framework and the business owner
The M3 Framework designed by experts in the psychology of entrepreneurs at significant points of transition or exit.
Business owners are hardwired to build and run a business! A business owners life, business and wealth are interwoven, and not easily separated. Significant transitions expose owners and their businesses to both internal and external threats and challenges.
Successfully exiting a business for many and varied reasons requires a substantial change for owners, for their families and for the business.
This tool may help in your thinking process, named the M3 Framework it has three (3) key headings:
MY BUSINESS
MY MONEY
MY SELF
The challenges and opportunities in My Business, we talk about all the time with our clients including improving systems, document and building your strategy, reviewing your overall structure, assessing the market environment, valuation of businesses, how are people managed and performing, what does the financial health of the business look like.
My Money includes the management of finances, cash flow, both business and personal, assessment of investments, the kind of legacy clients want to leave, taxation and when to transition from the business to the money.
The most important, My Self and the psychology of succession. What can you do and how and why do you want to build a legacy, how your personal values shape how you live and work, and what motivation desires must be satisfied in order to reach psychological health.
How will a change to my business impact on the relationships that are important to me? What choices and options best suit my personality and what are the different types of leadership in my business?
If you think now is a good time to talk about business succession and exit planning, click on Let’s Chat below for a conversation with our expert Business Coaches.
