“When do you plan to sell?” is a question I recently asked a group of diverse landscape contractors, who were attending my Leader’s Edge landscape peer group.
The answer was surprising.
Everyone gave approximately the same answer:
- The 55-year-olds said ten years
- The 45-year-olds said ten years
- The 35-year-olds said ten years
Why did everyone have the same answer? I believe there are two explanations.
1. Delaying Tactics
It is very possible “ten years” is a pat answer that allows anyone of any age to push off a decision they don’t want to think about now. Saying “ten years” allows them to postpone the conversation.
2. Different Perspectives
It is also possible there is a more nuanced explanation, where the younger owners have a different outlook than the older owners. The old school owners are planning on working till they retire or longer, and they are not thinking about selling as a current issue. Whereas the more forward-leaning owners are thinking ahead about getting out early, to do something different with the next stage of their lives.
Which group do you fit in?
Stop being distracted by current events.
Whether you want to work every day till you die, or you want to build a company to sell one day, either way, you are better off by intentionally developing your company so it can operate without you. This way you can choose when, where and how you go to work.
For example, as I emailed last week, John Puryear, owner of Puryear Farms in TN (and my guest on The Ultimate Landscape CEO podcast), has worked hard to pull himself from his business so it operates smoothly without him in the day-to-day (or week-to-week.)
The key to achieving your long-term goals is to start now!
Every owner I know, and coach, sets BIG goals, but I find that the timeline they predict is generally stretched out twice as long as they need to be.
If you double down, plan it out and take bigger steps, I promise you will hit your goals twice as fast as you might think possible.
You can do it!