Planting Now for a Future Harvest: Laying the Groundwork for a Successful Transition

As summer fades and fall takes hold, we’re reminded that every harvest begins long before the crops are gathered. Farmers test the soil, plant with intention, and tend their fields throughout the growing season to enjoy abundance in the fall.

 

Business owners face the same reality: a successful business and future exit or transition doesn’t happen by accident. It requires foresight, planning, and consistent effort.

 

And just as fall is the season of harvest, it’s also a season of reflection—a chance to finish the year strong while preparing the ground for the new year ahead. For business owners, this means evaluating where you are today, clarifying where you want to go, and putting structures in place to ensure your business thrives during transition.

Step 1: Testing the Soil — Where Are You Today?

Farmers know they can’t grow healthy crops without understanding the condition of their soil. Testing the soil helps them adjust to ensure a successful harvest. The same applies to your business and your goals.

 

This fall is the perfect time to “test the soil” of your business by reviewing both short- and long-term positioning. Ask yourself:

  • Financial Health (Cash Flow & Profitability): Are revenues, margins, and cash flow where you expected?
  • Valuation Benchmark: What is your business worth today compared to last year? Is it trending toward your future exit target?
  • Growth vs. Profit Balance: Are you reinvesting appropriately without sacrificing sustainable profits?
  • Customer Concentration: Are you too reliant on a few key customers?
  • Team & Leadership Development: Is your management team growing in capability and independence?
  • Operational Efficiency: Have you streamlined processes and systems to support scalability?
  • Strategic Alignment: Do current projects support your long-term succession or exit goals?
  • Market Position: Are you keeping pace—or gaining ground—against competitors?
  • Owner Dependence: Could the business run smoothly without you day-to-day?
  • Personal Goals & Readiness: Are your lifestyle and financial goals aligned with the business’s trajectory?
  • Advisor Team: Do you have valuation experts, legal counsel, tax professionals, wealth advisors, or other advisors working in coordination?

Fall Action Step: With nearly a full year of results in hand, schedule a time to review your business and personal goals. A clear snapshot today gives you the insight to finish the year strong and start next year with clarity.

Step 2: Plant for the Future — Choose Your Exit Path

Farmers don’t scatter seeds randomly—they choose crops that fit their soil, market, and desired harvest. Likewise, your exit strategy defines your destination and determines the work required to get there.

Common paths include:

  • Family Succession → Passing the business to children or relatives (requires tax planning, governance, and early conversations).
  • Management Buyout → Selling to employees or managers (requires leadership readiness, financing structures, and incentives).
  • Third-Party Sale → Selling to a competitor or private equity group (requires clean financials, reduced owner reliance, and systems buyers value).
  • Gradual Exit → Stepping back while keeping partial ownership (requires role redefinition and continuity planning).

Each path carries different financial, legal, and emotional implications. The sooner you decide which “crop” you’re planting, the better you can prepare.

 

Fall Action Step: Block some time before year-end to reflect on what you want your harvest to look like. Do you want to maximize sale price, keep the business in the family, or prioritize employee ownership?  Either option requires planning and the right advisors to 

Step 3: Succession Planning — Nurturing Growth

Seeds don’t thrive without water, sunlight, and consistent care. Businesses don’t thrive without succession planning. If the business assessment is the soil test and your exit strategy is the planting plan, succession is the daily care that ensures long-term growth.

 

Strong succession planning involves:

  • Developing a capable leadership team.
  • Documenting critical processes for continuity.
  • Retaining and motivating key employees with the right incentives.
  • Building customer relationships beyond the owner.

Without succession planning, even the best strategy can fail. Buyers and successors want confidence that the business will continue thriving without you at the center.

 

Fall Action Step: Ask yourself: If I stepped away tomorrow, would the business keep running smoothly? If the answer is no, make leadership development and process documentation top priorities in next year’s plan.

Finish the Year Strong, Plant for the Year Ahead

Fall is both a season of harvest and of preparation. For business owners, this means two priorities:

  • Maximize results for the current year (tighten cash flow, close projects, and solidify profits).
  • Lay a strong foundation for the next (set value growth goals, update your plans, and align your strategy with your exit timeline).

Whether your harvest is one, three, or ten years away, the seeds you plant today will determine the abundance you enjoy tomorrow.