Written By Strategic Advisor Kevin Brownlee
Do you plan to sell or transfer ownership of your business someday? All business owners plan to, but few have a plan in place to do so.
A successful “transition plan” needs to begin roughly 10 years prior to your anticipated transition date (5 years for small businesses). In other words, if you want to sell your business at age 65, you need to begin the plan when you’re 55.
A successful “transition plan” has three phases:
►Articulate your goals of the sale, including building value to be attractive to the purchaser and to you. Determine your core values, and align them to your goal.
►Develop a strategy to meet those goals, build value, and pass on your legacy and values.
►Implement the strategy and work the plan to a successful win-win outcome.
Rarely, does a business owner have the time or expertise to accomplish that on their own and those that try to spend their retirement with regrets. Most business owners have one shot at transitioning their business, and want to get the best “buck for the bang”.
Agora Strategic Consultants have successfully “transitioned” over 350 companies, and we know what works, and what’s a waste of time.
Why not contact Agora and let us transition you with a bang (and lots of bucks.) We guarantee you won’t regret it.
