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👉 For many self-employed, the #business is their largest asset and the source of the majority of retirement funding. Yet business owners commonly neglect to do any planning for this event until the last minute.
Talk about throwing caution to the wind! 🌬
Even if you aren’t planning to sell your business for many years, that doesn’t preclude you from doing the necessary prep work. Examples of things that business owners should be doing to prepare would include:
- Identifying internal and external successors
- Getting valuations for all tangible and intangible assets (machinery, patents, etc.)
- Getting an independent third party to conduct a valuation of the enterprise