Taking Leave

The firm had prospered in Prouty's absence, and since then, he's felt free to take several more "mini-vacations," knowing he can take a leave from the business and everything will be fine.

Are you thinking of doing the same? The Platinum Group's Coleman has some tips, presented as a three-question yes-or-no quiz. These three questions are deal breakers in Coleman's opinion. He says, "If you can't answer yes to these questions, you aren't ready."

> Is the business stable, with consistent year-to-year revenue growth?

> Will you be able to continue to receive your necessary level of income while you're away?

> Do you have the necessary bench strength—managers who you trust and who can lead the business in your absence?

There are other questions to ask: Have you been chained to your desk? How many times have you taken a vacation of two weeks or more? For most business owners, the answer is zero. Do you have regular family or friend time on a daily and weekly basis? Are you getting regular exercise? How's your weight? How's your diet?

Time away can do wonders to recharge your batteries. It can trigger new business ideas, and get you thinking about outside pursuits, such as giving back to the community. And it can give your managers a chance to spread their wings.

Coleman says that, more often than not, your business will do better when you're away. And you'll come back more of an owner than a manager.