The CNBC article below highlights five mistakes owners make when selling their business. Making the missteps noted in this article can lead to financial and emotional outcomes that weren’t the intent of the owner.
- Failure to plan
- Not involving professionals early in the process
- Insisting that kids are the right next owner or not considering children as the successor
- Not planning for the after-sale
- Being a helicopter business owner
Our extensive experience with clients who own businesses has solidified our belief in the power of constructing a strong team that can plan for the exit as well as execute on the transition when the time comes. We help formulate an exit strategy plan and solutions for the liquidity resulting from a transaction.
Give us a call if we can help you develop your exit strategy or succession plan.
Matt and Andrew