Business exit panning requires time and balance. There are three forms of readiness that all owners need to consider - personal, financial and business.
Business exit planning is like a three-legged stool. It requires balance! Every business is different and every family is different. However, when it comes to a business transition, there are three forms of readiness that all owners need to consider – personal, financial and business.
Check Your Readiness
Preparing for a transition is just good business strategy. It makes sense to do the work even if you don’t plan to exit for quite a while. Have you ever asked yourself these questions:
- What will I do with my time when I retire?
- Do I have any hobbies that I love?
- Do we have enough money to last?
- Is there anyone that can do what I do for the business?
- Will I be able to let go of the reins?
Please join Samantha Metcalf and Lisa Horn as they continue the conversation around business transition in this video. Stay tuned for further installments in our Owner Transition series.
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