Financially Simple

Undoubtedly, in our lives as business owners, we will reach a point where we find ourselves considering selling our businesses. Some owners may feel like they've already achieved a certain goal while others may want to sell their business to raise funds for a new venture. Whatever the reason is, we business owners need to be prepared, and we need to take a step back and evaluate whether it's really time to exit our businesses. In this episode, I outline the factors that determine whether a business owner is ready to sell their company. I explain why many business owners feel regretful within a year of selling their businesses and discuss how you can avoid experiencing an identity crisis after exiting your business. I also describe the "trigger" events that make owners want to transition their companies and underscore why an exit plan is essential to a successful business sale. "With real estate, it's 'location, location, location.' With business exits, it's timing, timing, timing." - Justin Goodbread   This w