Most businesses start with an idea that is brought to market. Customers purchase the product or service and the business begins to grow. Eventually, if the company grows enough it acquires ‘value’.
Most business owners who are asked about their exit plans will reply that they want to exit their business ‘in about 5 years’. Often times, 5 years later, the same owner will give the same answer to the same question.
When giving consideration to who will own your business after you, it is critically important that you are able to see that your future owner will face the same challenges...
Business owners who are thinking about exiting their business will often want to compare their potential exits to other owners who have been through an exit.
