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Lewis -- sometimes businesses get started or passed down from previous generations and things are just what they are. All is well until there is a change or a reason to be otherwise. Often the business comes first, the plan comes later, when there is time. Good thing there are advisors like you who understand the need up front.

Mike -- I hope I'm interpreting your comment correctly: you mean dangerous in a good way, right? It's really emotional to talk about something like your own business in such frank terms like valuation and exit strategy. Yet, unless we build those in consciously, the market will exploit what it will.

Thank you, both. As business owners yourselves, you bring a lot of experience to this conversation.

"Most founders are pretty poor at selling and marketing their businesses"

When I read that portion of your post I had flashbacks to all the after client meetings during where we would come back and say something like, "if they knew how to market and sell this client would really be dangerous!"

This is really helpful. Thanks for loading this post with a boat load of wisdom.

Keep creating,
Mike

Valeria,

I argue that no one should start a business before creating a business plan. And all business plans contain an exit strategy. If we aren't about goals and objectives and especially about building valuation, are we really a business? Or our we simply playing a risky game?

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