Many business owners regret selling their business within the first year. Why? Because they failed to plan for their exit. Almost no business owners have a formal eit plan so they end up with limited options. Most think they will sell to a third-party and many actually are able to, but regret it when they realize how the new owner changes it.
A proper exit plan begins with setting goals for the business owner, spouse, children and other stake holders. These goals are the foundation for developing the path for achieving the ideal exit. Finally, the execution of the plan achieves the goals set in step one.