When it comes to the business you’ve built with your own blood, sweat and tears, the thought of selling generates strong emotions.
That’s why many owners tend to ignore valid reasons to sell and put off planning an exit until it’s too late. Or, worse, they wait until they’re forced to sell.
Fear is usually at the heart of their indecision.
“What if I don’t have enough money to sustain my retirement?
“What will I do with my life after the sale?”
“If I’m no longer the owner of a business, who am I?”
If these or similar fears have floated through your mind, step away from the emotions and ponder this hard reality:
Developing a strategic Exit Plan is just as important as the 5-Year Plan you put in place when you launched your business.
Next Up: Top Reasons To Sell Your Small Business.