A recent survey by The Sellability Score found companies that would perform well without their owner for a period of three months are 50 percent more likely to get an offer to be acquired when compared to more owner-dependent businesses.
We recently conducted an exercise on one of our TAB Boards where we asked each CEO to “list three things they can do in the next 30 days that will make it possible to take 30 consecutive days off in 2014”. It was amazing to see the wheels turning and a number of CEO’s are now working their plan to find a way to take a month off.
There is no better justification for taking a blissful, uninterrupted holiday than to see how your company performs in your absence. The better your company runs on autopilot, the more valuable it will be when you’re ready to sell.
To gauge your company’s ability to handle your absence, start by taking a vacation. Leave your computer at home and switch off your mobile. Upon your return, you’ll probably discover that your employees got resourceful and found answers to a lot of the questions they would have asked you if you had been just down the hall. That’s a good thing and a sign you should start planning an even longer vacation.