Master planning is a strategy that should be implemented from the day the business opens, not at the end.  Master Planning focuses on drivers that enhance the value and efficiency of the business NOW, not just into the future.  It also focuses on helping the owner reach their near-term and long-term financial and personal goals ASAP. 

Experienced business owners know it takes time to properly implement business strategies.  From my own experience, it took 5 years of planning and executing master planning strategies to reach our goal of listing on the Australian Stock Exchange.  It is common for SME’s to take between 3 to 5 years to reach their owner’s goals, so the sooner planning starts, the better. 

Who knows, an acquirer might even knock on your door in that time.  Will you be ready to get the best value out of your business in that case?

The other factor to consider is that 50% of business owners don’t get a say when they transfer or sell a business because of the five D’s (death, disability, divorce, disagreement & distress). Do you want the peace of mind knowing you can pass the business on in great shape to your family and employees, no matter what unexpected event may happen?

At the end of the day you should ask yourself … “When would I like to have the freedom to choose when I work, where I work without financial restrictions, personal regrets or business remorse?”  

You have two choices …

1. Well into the future (the solution then is to just do nothing); or

2. As soon as possible (the solution here is to start your Master Planning NOW … contact Greg to start your journey)

This is a common issue for many business owners … not enough time.  You then must ask yourself … “What are my priorities in my business and my life … to constantly be putting out fires or find a way to stop the fires from starting in the first place?”  

Committing to the process of master planning will give you solutions to stopping fires before they start.  It will also help you find more freedom and also enhance the value of your enterprise. The time invested in master planning will reward you substantially more that just doing the same thing (that is not working), day in, day out.   So what’s your priority?

The primary difference between a family business and a non-family business comes down to the exit options chosen by the owner (i.e. transfer to the selected family members, or the choice of 7 other exit options).  All value enhancement strategies, goal setting, strategic planning and closure of the gaps holding the owner back from their dreams remain the same.  Master Planning is just as effective on family run businesses as it is on non-family run businesses.

If you owned a Formula One car, would you let anyone with a drivers licence take it for a spin, or would you insist only a specialist driver could take it out?  Your business is like a Formula One car, and it’s probably your most valuable wealth asset.

Now I’m sure your Accountant and Lawyer do a great job at their profession, but have they been trained in the many facets of master planning? I would not use an electrical engineer to build a road, nor a civil engineer to rewire my building. You need to get specialist advisors for specialist services. Master planning is a specialist service that requires the appropriate training, project management acumen and experience to carry out the Business Transition project successfully for the business owner.

Your Accountant and Lawyer should still play a big part in the master planning, but it is recommended to use them, and any other specialist advisors you use, for their respective skill-sets, and not in the specialist business transition role overseeing your largest and most critical wealth project.