If you’re considering exiting your business, you’re not alone. But before you take such a big step, it’s wise to make sure you’re ready. Take time to think through these three important questions and plan carefully to prepare for what comes next.Are you ready to make an exit?Many business owners went through a financial crisis in 2008, weathered the pandemic in 2020, and simply aren’t interested in managing their businesses through another potential economic crisis.
When it comes to managing a successful family business, the head of the family is often reluctant to share control and involve other family members in the process. Perhaps it’s a matter of pride, control, or a combination of factors, but the scenario is common among modern day family business owners.
June 29, 2021—For many family business owners, the company they developed and grew over the years has shaped their identities, given them purpose, and may have been the catalyst for keeping their families together. Following the sale of a family business, some may feel a sense of loss and perhaps even regret, unsure about what to do next.