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Every successful business will eventually change hands. So unless you’re planning for your business to fail, you should plan for a sale or generational transfer. That planning process shouldn’t be a spontaneous undertaking when you need to leave or have an offer. It’s something that has to begin way before a sale—ideally, it should be a part of your business plan. The sooner you understand that your business will eventually change hands, the better prepared you are to begin building

The right business brokers or advisor can add significant value to an M&A transaction, but only if you take the time to hire the right one. These five interview questions can help ensure you have a great fit. How does your firm structure payment? You’ll likely get a pitch from several partners. But when it’s time to get to work, are you paying partner wages to get an associate or intern? Ask who gets paid for what, and get specific

Interviewers commonly ask job applicants to identify their greatest strengths and weaknesses. But have you thought about how you might answer this question for your business? As you plan for the future, a realistic look at your businesses strengths and shortcomings is critical to ensuring it can grow and adapt. Buyers will also want to understand how you see your business. One of the best things you can do is look at your business from the perspective of a buyer.