But never lose sight of the fact that you are creating something, something of real value. Prepare yourself now to demonstrate that value in the future.

Topic for Discussion: As you build value in your company, how do you prepare to someday liquidate that value for your personal benefit?

Answer: As your company is growing, it may very well be too early to develop an exit strategy. The right move might be to sell to an employee whom you haven't even hired yet! The important thing, from Day One, is to prepare yourself and your company for the execution of the eventual strategy.

Each of us comes to our business with certain expertise and with an inadequate skill set in some of the other areas necessary to operate a successful business. We "fill the gaps" with employees, consultants, and by learning, expanding our own skill set. Most likely, you'll need all three when the time comes to exit.

Take the time now to educate yourself about succession planning. Learn the difference between price, cost, and value. Read books, attend lectures, visit with business brokers at Chamber luncheons, etc. Be confident that someday, you'll need this knowledge.

You think about it: What are you doing now to get ready to sell your business or to be ready to sell when someone comes knocking on your door?