Do you have an exit plan? Congratulations. More than 8 of 10 of your colleagues do not. Do you want to sell to a third-party? Most do, but only 1 of 5 actually do. Some even end up closing altogether.
Failing to have an exit plan could seriously jeopardize your retirement. Please get started today. Selling to your employees is an increasingly popular option and there are several ways to do that. Some come with significant tax benefits. Others leave you in control till the last penny has been paid.
The main thing is to get started and it doesn't begin with selling your business. It ends with selling your business. To get there, you start with figuring out what your retirement should look like for yourself, your family and others who are important to you who will be impacted. Do it the other way around and you could end up with a perfect sale but a terrible retirement.