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Devising an exit plan requires three broad steps: gathering data; quantifying you resources, and assessing exit options. Many owners want to know how long this process will take. The answer is as unique and variable as your business. It depends on how prepared your business was at the outset, and how much you’re willing to do to get it ready.  A few general guidelines can help you estimate how long it will take to sell your business, and how long

Retirement planning should begin on day one of your business. Yet many owners don’t give retirement a single thought until they’re ready to transfer ownership. That can reduce value and make the process of transferring ownership or selling more stressful than it needs to be. These 10 retirement preparation strategies for business owners can prepare you for retirement no matter where you are on your business ownership journey.  Get Your Books in Order  Buyers typically want to see at least

You’ve spent much of your career competing against other businesses. As you near retirement, though, a competitor may be the best option for a lucrative exit that allows your business to continue your legacy. Selling to a competitor requires significant due diligence, particularly in the early stages when some competitors may use a sale ruse as a way to gain access to trade secrets or a competitive edge. These strategies can help you minimize risk while maximizing the value of