In the now-classic movie “Back to the Future,” Marty McFly finds himself in the past, spending time and energy doing all he can to ensure that he’ll have a future to get back to. The future can change, and with just one wrong course of action he could simply disappear! Business owners don’t generally like to look back, but doing so is necessary when serious progress is your goal. When you work with me, we’ll start with a deep dive into where you’ve been. I’ll then work with you to help you design an extensive plan for your future, with your business as the DeLorean that will get you there.

When business owners are ready to understand the actual value of their business—I bring the truth. Mentoring business owners toward their goal of adding transferable value—whether a potential sale is six months, six years or more in the future—that’s my expertise.

The disconcerting events of 2020 have sparked a review of business approaches along with a close examination of personal choices. When economic uncertainty lingers, you cannot let your guard down. This is a time to remain aware of threats, and more importantly, opportunities. When your perspective on your business changes through assessment, you gain a real time understanding of your business’ value.

Are things changing too quickly some days and too slowly on others? There’s certainly a lot of change in the air– more than most of us are comfortable with. How can we find the opportunities? Today requires all the flexibility and momentum that we can gather. When our individual and collective business worlds could be contingent on government decisions that can change at the drop of a hat, more than one back up plan is needed.

No matter how you describe the ride that we’ve endured for a couple months now, we are realizing that things will never be the same as before. The businesses that are best suited for success in the long term will be those with leaders who know that their business must rapidly evolve. Prior to our current pandemic, some businesses were moving into unchartered waters.

Which of your tasks are a priority during turbulent tides? How can you feel confident that you are making the best choices? What additional resources should you be aware of?

My job is often to be very candid with my clients regarding an outsider’s perspective on the condition of their business. That sometimes carries with it a depressing attitude back from prospective clients or actual clients when they have put a lot of blood, sweat, & tears into their business, which for many could be classified as their “baby”. That reality or slap in the face could become a big weight that may threaten their motivation to do what is required to push forward with improving the business or turning it around, in the worst case.

Sleeplessness, caused by the inability to turn off the mind, is one of the most common side effects of business ownership. In my many years of helping entrepreneurs perform at a higher level, I’ve observed that a number of shared issues repeatedly make their way into the conversation as reasons for tossing and turning once the lights go out. Here are five questions I hear over and over again:

As our decade comes to a close, take a moment to pause and reflect on the past, prior to making new resolutions and setting goals. Acknowledge how you overcame obstacles and give yourself a pat on the back for the progress you have made. At the same time, recognize that self-imposed roadblocks make up a large portion of the hurdles faced by each of us. Were these the roadblocks that stopped you from achieving more? You may have been super busy, but what did you really accomplish?

In his classic story, A Christmas Carol, Charles Dickens wrote: “I will honor Christmas in my heart, and try to keep it all the year. I will live in the Past, the Present, and the Future. The Spirits of all Three shall strive within me.” Christmas is such a wonderful time filled with beautiful memories of the past, meaningful moments to appreciate in the present, and a look to the future with wide-eyed high expectations. It’s an ideal time to also bring that same optimistic perspective to our businesses. It’s a time for us to be our best selves.

We all know how important it is to give back to our communities. Besides helping our companies build a positive reputation, philanthropic endeavors can improve employee morale. And more and more consumers like buying from socially responsible businesses.

“Put your hand on a hot stove for a minute and it seems like an hour. Sit with a pretty girl for an hour and it seems like a minute. That’s relativity.” – Albert Einstein And yet, for those of us not blessed with an astronomical IQ, time does seem to be speeding up. I often compare the second half of a year to the second half of a gas tank. The first half seems to take forever; the second disappears in the blink of an eye. Which is how we find ourselves, ready or not, in October with the holidays staring us in the face.

Business owners know they won’t own their companies forever. Approximately 250,000 lower middle market business owners in the United States will try to exit their companies in the next 12 years. Of those 250,000, only 50,000 will be ready. Of those, 30,000 will go through with the transaction, and 16,000 of those will sell with concessions. Sadly, only 14,000 owners will sell their companies at the value they desire. The success rate of these attempts is forecasted at 5 percent.

What are you working on today? What will you accomplish this week or month? Who is demanding your time and attention? Are you really satisfying their requests? Why did you get out of bed this morning? Why are you the owner of your business? What is your passion and purpose? Do you remember your “Why”?

“Almost everything will work again if you unplug it for a few minutes . . . including you.” – Anne Lamott Many business people, especially owners, consider vacations “guilty pleasures.” That’s assuming they take one at all. Vacations should be a necessity, not a luxury.