Most business owners don’t plan ahead for the sale of their business. When they decide to sell, the business may not be worth what they’d hoped. Don’t wait until the last minute to plan your retirement or exit strategy. Your succession planning should begin well in advance of your planned exit from the business. Your planning should actually begin on day one! A formal plan for a transfer of ownership should be one of your top priorities. Don’t leave your spouse or heirs in the position of having to make the biggest business/financial decision of their lives without a comprehensive plan.
