{"id":2027,"date":"2018-06-25T09:59:31","date_gmt":"2018-06-25T14:59:31","guid":{"rendered":"https:\/\/www.sunbeltnetwork.com\/dayton-oh\/?p=2027"},"modified":"2023-07-28T16:46:31","modified_gmt":"2023-07-28T16:46:31","slug":"why-do-we-want-business-owners-to-get-a-round-tuit","status":"publish","type":"post","link":"https:\/\/www.sunbeltnetwork.com\/dayton-oh\/why-do-we-want-business-owners-to-get-a-round-tuit\/","title":{"rendered":"Why Do We Want Business Owners to “Get a Round Tuit”?"},"content":{"rendered":"

During the first half of 2018 Sunbelt Business Advisors of Southwest Ohio hosted seminars in Cincinnati and Dayton entitled \u201cIt\u2019s Time to Get a Round Tuit.\u201d\u00a0 The point of the seminars was to illustrate how \"\"<\/a>important it is for business owners to begin the process of developing an exit strategy \u2013 the process of planning for a successful transition of ownership of their business, whether 1, 3, 5 or 10+ years down the road.<\/p>\n

The concept of the Round Tuit is simple, we all have a tendency to put things off that aren\u2019t of immediate urgency.\u00a0 Business owners are especially susceptible to this.\u00a0 There are always a hundred things to do, work on business development, schedule work, hire, train and manage, and the list goes on and on.<\/p>\n

Who doesn\u2019t need to get a Round Tuit?\u00a0 As a small business owner myself, I fall into the trap of procrastination every day.\u00a0 Some things aren\u2019t pressing, so it\u2019s okay.\u00a0 Other things are more strategic and need to be worked on immediately.\u00a0 So why do I put them off?\u00a0 All the usual reasons, I tell myself I don\u2019t have time right now; I\u2019ll get to it later; the next step isn\u2019t fully formed in my mind, so I\u2019ll wait until I get it perfect, etc., etc.<\/p>\n

Sure, everyone suffers from a bit of procrastination, but when it gets in the way of achieving important goals it\u2019s insidious.\u00a0 The issue is important enough that Piers Steel, Phd., wrote an article in Psychology Today entitled The True Meaning of Procrastination.<\/p>\n

In the article he wrote, \u201cMy fellow procrastination researcher Timothy Pychyl\u00a0<\/a>points out that “all procrastination is delay, but not all delay is procrastination.” Procrastination is a very special type of postponement; unlike the delays in the examples above, procrastination is irrational<\/strong>.<\/p>\n

The\u00a0Oxford English Dictionary<\/em>\u00a0gets closest to the irrational dark heart of the word. It defines procrastination as a postponement, “often with the sense of deferring though indecision, when early action would have been preferable.”<\/p>\n

When it comes to delaying the planning of an exit strategy, the impact can have devastating results, especially for those owners considering retirement.\u00a0 Ultimately, the business will have less value and less marketability.\u00a0 Beginning to plan doesn\u2019t need to be expensive or overly time consuming.\u00a0 Don\u2019t allow yourself to fall into the procrastination trap.\u00a0 Instead, Get a Round Tuit.<\/p>\n

For more information on how to begin the exit planning process, contact Sunbelt Business Advisors for a no cost, no obligation meeting at info@sunbeltswohio.com or call 937-866-4611 or (513) 762-7636.<\/p>\n","protected":false},"excerpt":{"rendered":"

During the first half of 2018 Sunbelt Business Advisors of Southwest Ohio hosted seminars in Cincinnati and Dayton entitled \u201cIt\u2019s Time to Get a Round Tuit.\u201d\u00a0 The point of the seminars was to illustrate how important it is for business owners to begin the process of developing an exit strategy \u2013 the process of planning […]<\/p>\n","protected":false},"author":51,"featured_media":11737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[21,2],"tags":[],"class_list":["post-2027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exit-strategy-planning","category-selling-a-business"],"acf":[],"yoast_head":"\nWhy Do We Want Business Owners to "Get a Round Tuit"? - Sunbelt of Dayton<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sunbeltnetwork.com\/dayton-oh\/why-do-we-want-business-owners-to-get-a-round-tuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Do We Want Business Owners to "Get a Round Tuit"? 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