Much is made of analyzing the personality traits of successful entrepreneurs.
Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are frugal with their finances.
Their diversity can lead one to the conclusion that there are no common personality traits among successful founders.
I was re-visiting the Survey of Owner Readiness that our Exit Planning Institute (Twin Cities) Chapter published a couple of years back, and I was reminded that it says 99% of business owners agree that they should have a written exit plan.
Many business owners talk about their business profit and the value of the firm. There is this idea out there that if you have profit, a business would sell for some multiple of that profit. Sounds simple, right? If this were universally true, however, then all businesses would expect to sell when the owner was ready to exit the business. Alas, that is not the case!