In the world of business owners and founders, confidence is the fuel that drives decisions, inspires teams and enables risk-taking and innovation. But even the boldest owners know that feeling a little scared sometimes isn't a weakness — it's often wisdom in disguise.
In my experience, many issues that cause businesses to fail are years in the making. And many owners are closer to being out of business than they realize.
Issues that undermine a business's financial health often go undiagnosed until owners consider their exit. The 2023 National State of Owner Readiness Report by the Exit Planning Institute reveals some critical areas where business owners tend to be unprepared, and the consequences could be dire.
