This is an important question, but not popular.
Everything in nature operates in cycles, including us and our businesses.
Times change faster than businesses. The average lifespan of a business, has fallen from around 60 years sixty years ago to 18 years today. You will outlive several of the businesses you work for.
Humpty 1.0
Like us, businesses can hope for a good end, or a bad one. Moreover, for our businesses, we can choose.
When, where and how.
A good end might involve all stakeholders missing it fondly, remembering the good times, appreciating what it did for them and their community whilst recognising it was time for it to go.
A bad end might involve all the pain of administration, the angry creditors, the surprised, distressed employees and a gap in the High Street or Business Park like a missing tooth.
Every business plan has a heading "exit strategy", and that will normally involve excited imagery of an IPO, or a Trade Sale, with happy investors. In reality, most e…
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