When it comes to business transition planning many private businesses fail to achieve business transition success due to a failure to plan.
See how you can get a start on your planning in 3 easy steps:
1. Plan Early
Business transition is a high-stakes decision that requires beginning the planning process early. Taking a long-term approach allows for optimally designed transition strategy.
2. Define Financial Objectives
Advanced planning also provides time for owners to define their financial objectives and control the how, when and to whom aspects of the transition.
3. Wait and See
In the face of uncertain economic conditions, many owners take a “wait-and-see” approach to business transition planning. This could lead to missed opportunities. However, shaky economic times can present potential opportunities for transition.
NOTE: IMPORTANT INFORMATION
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