What Do You Want From Your Business?
Insights by Peter Watson.
We finish the year much as we started, in furious activity, despite a quieter summer. M&A stats do show a slowdown in activity but these indicators typically lag the market. We certainly detect a pickup in deals and also in our clients’ businesses. Let’s hope this trend continues into 2024!
Once the last mince pies have been digested, the break between Christmas and New Year often allows time for you to consider your efforts throughout 2023 and what you might expect and hope from 2024 and beyond. We would encourage owner-managers to take some time to reflect on what you want from your business and life beyond. Owning and running an SME can all too easily become a pair of handcuffs – it is your business and it should deliver what you want.
If you want a lifestyle business, that is fine, or alternatively if you are ambitious to grow it, that is fine too. What is not fine, is to have a lifestyle business and then expect to sell it for a premium price!
Coming up with a plan that meets your own personal objectives is key. Establishing what you want isn’t always easy and certainly evolves as your own priorities change. Try to spend some time over the holidays to consider this afresh.
In the New Year, when you’ve had a chance to think about the future, book a 1-to-1 Chat with us to discuss your ideas and goals. We can be a useful sounding board and might just help you to clarify what you want from your business.
Season’s Greetings from the Prism team and we wish you all a happy and healthy New Year.