As the year comes to a close, many business owners find themselves reflecting on the future: setting goals, evaluating priorities, and thinking about what comes next. For some, that means wondering what life might look like after the business.
Whether you’re planning to sell in the next year or simply want to keep your options open, the end of the year is the perfect time to start those important conversations.
Start at home.
If you’ve ever imagined your children taking over the business one day, ask them what they really want. Many owners are surprised to learn their kids have different plans and that’s okay. Knowing this early gives you time to explore other options for the company you’ve built.
Talk to your advisors.
Your accountant and financial planner can help you understand what you’ll need from the sale to support your next chapter. They can also help you plan ahead for tax implications, retirement goals, and investment strategies.
Get a professional valuation.
You can’t plan your future without knowing what your business is worth today. A valuation gives you a clear picture of value, highlights strengths and risks, and helps you make strategic decisions now that can increase value later.
Selling a business isn’t an overnight process. On average, businesses spend 9–12 months on the market, followed by a 6-month transition period after the sale. That means the decisions you make this winter could determine where you’ll be a year and a half from now.
If selling (or even preparing to sell) is on your mind, give us a call at 573-335-1885. We’ll help you understand your options, what your business is worth, and how to make a plan that fits your goals and timeline.
