brick & mortar
Owner Readiness
The Part No One Talks About
by Brian McKay
Most business owners spend years building a company and very little time preparing themselves to leave it.
That creates a problem.
According to Exit Planning Institute research, 75 % of business owners regret selling their business within one year of the transaction.
Why?
Because many owners prepare the business for sale but fail to prepare themselves for life after the business.
For entrepreneurs, the company often becomes more than an asset. It becomes identity, purpose, relationships, challenge and routine. Then one day, the meetings stop. The phone slows down. Decisions are no longer theirs to make. What sounded like freedom can suddenly feel unsettling.
The financial side matters too. Many owners discover too late that they relied heavily on the business income to support their lifestyle or that their expectations of value were unrealistic.
A successful transition is not just about getting a deal done. It is about being prepared for what comes next.
A successful transition is about being prepared for what comes next
That starts with a few hard questions:
• What are you moving toward, not just away from?
• Does your business truly operate without you?
• Are your personal, financial and business goals aligned?
• Have you built a leadership team capable of carrying the company forward? continued on page 44 >>
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