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I’ve talked with a lot of people looking to sell or otherwise retire from the business they own. The image is that someday, someone’s going to come in with a briefcase full of hundred dollar bills. The owner will gladly walk away, their future now secure.
But we all know it doesn’t happen that way.
What that briefcase really represents is the security that you have your future in hand, and no matter WHAT happens with the business, you don’t have to worry about it.
It’s about removing risk.
When I work with clients, I ask them about their exit plans. If you’re unfamiliar with the term, it’s used to describe what happens with a company when ownership changes hands.
The most publicized scenarios are major mergers and acquisitions. When Disney bought Pixar, that was a big deal. Read the rest of this entry »
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