Think You're Ready for a Sabbatical?

In this month's "Personal Finance" column, a small-business owner prepares himself and his company as he gets ready to take a sabbatical. If you're contemplating time away from your business, take the quiz from Platinum Group, an Eden Prairie–based investment and management company, to find out if you should consider a sabbatical.

Instructions

Rate your fear factor on a scale of 1-10 on each of the key indicators listed below. Zero means your company isn't doing well in this category and you're downright scared. A 10 means your company is doing great and you're excited about the future. Keep track of the score and read the analysis to see if you're ready for a sabbatical.

Tip: If you can't say "doing great, top-notch!" to the first three questions, then you and your company probably aren't ready for a sabbatical, says Steve Coleman, a partner with Platinum.

1.  My business is stable with consistent year-to-year growth.

2.  I'll continue to receive the necessary level of income while on sabbatical.

3.  I can trust my managers to lead my businsess during my absence.

4.  I've consistently taken two weeks or more for vacation for the last several years.

5.  The business has created a satisfactory number of new products, services, and partnerships over the last 10 years.

6.  I regularly take time for family and friends—and to take care of myself.

7.  I've contributed a significant amount of money, personal time, and energy to charitable causes.

8. My company's board of directors or advisors are accountable and engaged in moving the company forward.

9. There's a writen succession plan on file with my business, and my estate plan with will and trust are in order.

10. I feel a calling to leave a legacy and have a dream for a new life situation.

Now total your results.