Business owners spend their time building their business and serving their customers.
They rarely spend time to plan their exit from the business. But unless they do plan their transition away from the business, they may not get the price they want or meet their expected timing.
If you know a business owner, please share this with them, and thank you for getting this information into their hands
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!