One of the most important factors essential to an effective business strategy is understanding and planning around the owner's personal objectives. Sometimes, the owner is motivated by a desire to create new products or innovations. Other times, it's about creating a legacy that can be left to future generations, or building the business into an asset that can command a high valuation at exit. Sometimes the owner has no clear idea of what their personal objectives are. And sometimes, the owner expresses the desire to position the company as a lifestyle business.