The previous 5 posts covered 5 of the more common emotions you may face as a business owner in the exit planning stage. As you navigate the emotional landscape of exiting your business, the journey doesn’t end with merely acknowledging and managing feelings. The five...
Business owners often wrestle with the fear of losing their identity when planning an exit. After years or even decades, of pouring time, energy, and passion into building their enterprise, for many business owners, the thought of stepping away feels like stepping...
Ever have your bookkeeper come to you and say… “if I pay those invoices you told me to take care of… we’re going to be short on payroll this week. What do you want me to do?” If so, you probably made some quick, knee-jerk adjustments to your payables, got your people...
CAN I SELL A BUSINESS? Yes, but it’s most advantageous to make a plan. Even during economic downturns, such as those experienced during the times of COVID-19 and the challenges in 2008, business owners continued to sell their businesses. However, it’s important to...
DO YOU DREAM OF BUYING YOUR OWN BUSINESS? Buying a business can be a complicated process. It starts with finding the right business for you and goes all the way to figuring out the details required for a smooth transfer of ownership. BIG STEPS - LOTS OF UNKNOWNS! ...
The fear of regret is a powerful emotion that business owners often experience when planning their exit. After years of dedication, hard work, and countless sacrifices, the idea of stepping away can bring up a host of “what ifs.” What if it’s the wrong decision? What...
Retirement anxiety is a powerful emotion that many business owners face when considering their exit. For years, the business has provided not just financial stability, but also a sense of purpose, routine, and identity. The thought of leaving all that behind can be...
As a business owner approaching the transition out of your company, you’re stepping into a process that’s as emotional as it is strategic. The journey of planning an exit and moving into a new phase of life often brings up a range of feelings and challenges, many of...
It’s a financial and emotional journey. Here’s where to start. Inheriting a business is an honor. But it can also weigh heavily on you. There’s pressure to continue the legacy established before you and feel like you’re doing right by your loved one. There’s also the...
Watch the replay of "What Every Advisor Must Know About Business Transitions" with Michael Valdez and gain practical strategies for effective succession planning and smooth ownership changes. https://ispassociation.org/webinar/business-transitions/replay BONUS...
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