HATTIE (In the Studio): Did you notice that these two share many things in common? First, they both studied their financial statements.

Their month-end closing was their score card. And they not only knew how to interpret their P&L, their profit and loss statement, and their balance sheet, they were always looking at key critical ratios.

Another common quality is their relationship with their CPA. Each had a CPA who was a trusted adviser. Even though Bob is a CPA himself, they both valued that extra set of eyes to help keep accurate books.

Do you study your financials? Do you follow certain key critical ratios? Is your CPA your most trusted adviser? If your answer isn't yes to all three, then consider making some changes. If you understand your business valuation, if you develop an equity and liquidity model, and if you are able to act on an exit strategy, you, too, may find uncommon wealth when you leverage both the tangible and the intangible assets of your business.

None of us live forever, and we should all be thinking about our transition, that period of your life when you share your wisdom with others within your industry, especially helping guide the next generation down the straight and narrow.