Trends show that the majority of smaller-sized business owners prefer to transfer their ownership to family members, an employee or a co-owner, with a small percent desiring to sell to a third party. However, for many of these owners, those that they originally identify as their desired successor don’t end up being the owners. Why is this the case for so many owners?
Too often owners spend valuable time, attention and resources planning to transfer ownership to the wrong successor and fail to consider other possibilities. As they move forward with setting their exit goals, determining how much money they need post-exit, and assessing and financial gaps, they come to understand the path they’ve planned for may not support their post-exit lives.
Go to this article to read more on why the path you choose for yourself and your business will reverberate for many years after you make it.