1010 North Elm Street
One of the things I enjoy the most about what I do is working with business owners who enjoy what they do.
But even the most satisfied entrepreneur looks forward to when their time is their own and they’re able to relax after years of hard work. But you have more to consider than people who work a regular 9-to-5 job when it comes to retirement – you can’t just hand in your notice and walk away. That’s why creating an exit plan helps ensure your business will transition as smoothly as possible when it’s time to pass the torch.
To begin with, it’s nearly impossible to accomplish meaningful retirement planning without knowing what your business is worth. And understanding the value you need for your retirement security is a key driver in the exit strategies available to you, such as a sale to managers, a sale or gift to family, or a sale to outsiders.
Deciding when and how to transfer your business is one of the most important decisions you’ll ever make. A wide variety of succession paths are available and together with your other advisors, we’ll structure the most efficient transfer possible.
Talk to anyone you know who has successfully exited their business. They’ll tell you it took a long time, likely several years, to develop and execute a plan. Don’t wait. Start soon.