100 Year Company Blog
I admit it, I do it…
I listen to the radio in the morning to hear the stock futures. Is it going to be a good day or a bad day in the markets? The results can set the tone for at least the start of my work day.
This is, of course, crazy.
My family’s financial future does not depend on what the stock market does today. Our financial future is much more dependant on what I do today and following the stock market hourly is not on the agenda.
The business succession of our owner managed businesses is a big story among professional advisors, bankers and bureaucrats. The discussion seems to be less appealing with business owners themselves.
I believe this is largely because our business owners are builders used to being in the centre of the action. Talk of succession planning suggests the end, moving to the sidelines at best, off the team and out of the stadium is the predominant fear. So why would an active builder want to spend time planning his or her succession?