E 177 The 5-Year Plan to Remove Yourself From Your Business

Ready to step into the CEO seat and grow a business that doesn't depend on you? Join the Million Dollar Practice Masterclass on October 15th here: go.thewealthypractitioner.com/milliondollarpra…
What would break if you left the country for two weeks? In this episode of Meant to Win, Dr. Stephanie Wigner shares the plan she'd follow to remove yourself from your business and have it ready to exit in five years or less, built from what she and Kyle learned doing it themselves. Today they own five brick and mortar locations and don't operate inside any of them.
Steph walks through the plan year by year: knowing your numbers, getting out of the engine seat, building your bench, and scaling with discernment. You'll also hear why most practices aren't as sellable as their owners think, and what to clean up now. If you've built a business and think you might want to sell it in the next few years, this one's for you.
CHAPTERS
00:35 Scaling means something different for everyone
01:52 How we removed ourselves from five locations
02:33 Year one: Get obsessed with your numbers
03:36 Year two: Get out of the engine seat
05:07 Year three: Build your bench
06:39 Protecting your business from key man risk
08:37 Getting your team bought into the vision
09:01 Year four: Scale with discernment and know the cost
12:28 Year five: Sell it, keep it, or duplicate it
13:34 The truth about selling a practice
15:36 What to clean up now if you want to exit
16:49 Keeping your business as a cash flowing asset
KEY TAKEAWAY
"You've built something really incredible. I want you to have the option to choose how long you do it for, as many years as you want, for as little as you want."
CTA
Ready to step into the CEO seat and grow a business that doesn't depend on you? Join the Million Dollar Practice Masterclass here: go.thewealthypractitioner.com/milliondollarpra…