A business owner may have to exit their business before they think. Preparing a formal business exit plan can be one of the smartest business decisions you’ll make. It will provide a business owner with the best financial and emotional options for selling their business.
Why is not preparing to sell your business a problem? Here are the top 5 reasons:
- Business value was not maximized
- Risks were not minimized, ie; taxes, estate plans…
- Potential disruption to employees, clients, and vendors
- Tarnished legacy
- Sale of the business may be unexpected
