When do I sell my company?
Like every owner, you will one day exit your business — voluntarily or involuntarily. On that day, you will want to attain certain business and personal objectives: the first (and usually prerequisite to all others) is financial security.
Believe it or not, most owners do absolutely nothing to consciously plan and systematically move toward the all-important goal of financial security. Anecdotally, the four most common excuses owners use to justify delaying and eventually ignoringplanning for exitare as follows:
- The business isn’t worth enough to meet my financial needs. When it is, I’ll think about leaving.
- I will be required to work for a new owner for years.
- I don’t need to plan. When the business is ready, a buyer will find me.
- This business is my life! I can’t imagine my nlife without it!
If you are one of those business owners do you not think you should start a plan?
You never know when you might need it.
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