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All good things come to an end. There is a natural progression from conception to end for almost everything found on Earth. Sometimes it is simply the final chapter for something as its value decreases. There is a myriad of examples found in history books, think single-use cameras, skinny jeans, or floppy disks.

This begs the question, “How are we maximizing our value based on our life expectancy?” We tend to spend most of our time dealing with the nuisances of the day-to-day, and, as a result, we don’t have the time, energy, or inclination to look at the life expectancy of ourselves, families, businesses, or the elements that make up our businesses. The old adage, “Never do today what you can put off until tomorrow,” catches us all. In some way or another, we all suffer from what I refer to as the FTI disease — the failure to implement disease. We often have lots of very good intentions, but along the way comes an inability to see things through. This is where things get thrown into that bottom drawer to collect dust. We know what the road to hell is paved with.

This is when you should be asking yourself, “What life expectancy issues should you be considering now to maximize your value to yourself and others?”

Looking at your business, should your main focus be on your exit strategy? How to improve profitability? Or how to extricate yourself from the day-to-day operations? What about your personal life? How comprehensive is your estate planning? Are you getting enough family time? What are you doing to stay healthy, fit, and happy?

We don’t get realistic about enough of the elements that make up our life expectancy because life gets in the way. These are two of my favourite John Lennon quotes: “Life is what happens while you are busy making other plans,” and “Reality leaves a lot to the imagination.” Many of the things in our lives that we want to change are simple, but they’re not easy. Try giving up smoking. Sounds simple, but it’s never easy.

In my previous article, I focused on labour productivity. The process is simple, but implementation isn’t easy. The simple part is knowing you need to identify the hours billed to clients versus the hours paid to your technicians.

Then, of course, when it’s time to start implementing the process, that’s when you find the implementation isn’t always easy. That is true regarding many other business strategies. Try eliminating processes that add no value to your business.

I’ve written extensively about exit strategies in this magazine over many years, and I’m still rather stunned to find so many people coming to me with no realistic exit strategy.

If you look at the surveys done by various organizations in Canada, you’ll find that you’re not alone in this area. I asked ChatGPT.

Fewer than 10 per cent of small and medium-sized enterprise (SME) owners in Canada have a formal or solid exit strategy in place, despite a large majority planning to leave their businesses within the next decade. Key statistics from recent reports by the Canadian Federation of Independent Business (CFIB) and the Business Development Bank of Canada (BDC) highlight this significant planning gap.

I empathize with the fact that this is a very difficult part of business to deal with, but my sympathy is lacking when the information is known, yet no action is taken. Your life expectancy in your business might not be very long, but it’s not going to get any longer. The businesses I find most difficult to sell are those in a downward spiral and/or have a very weak exit strategy for owners and senior management.

If I told you that you had to exit your business in 90 days and that you were going to fire yourself, how would your daily activities change? It would be simple enough to make a list of what you should be doing — become a teacher and teach others to do what you do, because you won’t be doing it forever. That’s the simple part. Implementation is not so easy, particularly if you don’t have good, detailed, documented procedures.

Here are some of the questions that you should be looking at:

☐ When do I want to exit my business and how is that going to happen?

☐ What would happen to my business if I got disabled tomorrow?

☐ Am I streamlining the business procedures to become more

automated?

☐ Am I selling the latest technology and guidance to my customers?

☐ Which processes in my business are adding no value and how do

I eliminate them?

☐ Should my business be making more profits? If your normalized

profit is under 10 per cent then the answer is definitely, yes.

☐ How would my family fare if I were to stop generating income

tomorrow?

☐ Am I healthy, fit, and happy?

☐ Are my loved ones and employees happy, fit, and happy?

Score each of these points on a scale of A, B, C. Start working on the A points now.

Remember that “Life is what happens while you are busy making other plans.” To avoid FTI disease, share this article with someone who you respect, who will help you develop your accountability process. Get them to do likewise and hold each other accountable. Commitments you make to others are far more likely to get done on time and on budget.

The

(HRAI) supports several great peer-mentoring programs. I understand and respect, from personal experience, the difference between simple and easy. Don’t let the daily grind get you down. Make this your New Year’s resolution and make 2026 the year you enhance the value of your life expectancy.