If you are a business owner planning to retire or transition your business, there are some important questions you must ask yourself. Being caught unprepared could cost you all that you’ve worked hard for.
Today’s demographic dictates that hundreds of thousands of business owners are thinking about retirement, resulting in an overabundance of businesses to be sold in the next 5-10 years. Unfortunately, most of them don’t have a succession plan in place.
Needing to sell your business and not being prepared could cost you as much as 100% or more of your final business value.
If you are considering selling your business in the next 5 years, you need to start planning now. This is especially true if the business still needs you to be successful. To sell for the most value, a business needs to run at peak performance for at least two or three years before it is sold.
The Business Transition Coach Forum™ (BTC) provides a roadmap for this process. This includes a start and end point and milestones that track your progress, with more profits along the way.