If you were born between 1946 and 1964, and you currently own a business, this information is intended for you
I’m part of the Baby-Boomer generation. Many owners of small businesses are, too. Over the past 25 years, many of my clients have been part of this generation, and we’re now starting to think about retirement.
But, like many things in business, thinking about something and making it happen, are two completely different things. Establishing a plan to Exit the business is one of the most important things you can do for yourself, your family, your employees and your business.
A successful plan takes time, effort and energy. But – it can happen and you can find the right path to your dream retirement.
Some key numbers you should know…
- 14% of business owners plan to fund their retirement with their business
- 19% of business owners plan to draw an income from their business
- 59% of business owners think they will achieve most of their retirement income by saving current earnings
- 40% of business owners don’t save at all
- Of all the businesses that go up for sale, less than 10% ever sell.
As the owner of your business, you need to take control and leave on your terms. To do that, we suggest you consider the following…
- START NOW – Exit planning can be complicated and take time. Assemble your team now
- CLARIFY YOUR GOALS – Share your dreams with your exit planning team.
- BUILD YOUR PLAN –Work with people that know the process There is much to consider
- MANAGE YOUR RISK – A strong plan should account for all the things that could derail the plan. Protect yourself, your family and your business.
- VALUE YOUR BUSINESS – Find the right valuation formula for you. Your exit planning team can help
- REVIEW YOUR PLAN – The only constant is change. Review your plan yearly to identify any changes
Get your copy of the FREE REPORT… “12 Fatal Mistakes You Can Make When Transitioning Your Business”
I wish you all the insight and wisdom need to set your plans in place. Until next week.
Health, Happiness and Abundance
“We help entrepreneurs leave their businesses with health, sanity and fair compensation for what they’ve created”
Watch the video and download your Free Report to learn how we can help!