| Less than half of exiting entrepreneurs look back to say that they successfully transitioned their business. Less than 10% receive anything approximating their expected sale price. Our survey found that only 9% of business owners have a formal written plan, yet 84% of owners acknowledge that the proceeds from their transition are important for their future.
Often owners spend vast quantities of time and effort building their business without considering the implications of their inevitable departure. Planning for the transition can seem like a daunting, even depressing, task. But procrastinating puts everything - lifestyle dreams, family legacy, and philanthropic intentions - at risk.
Transitioning a successful business is a huge undertaking with extremely high stakes, and the sooner planning begins, the greater the chances that all parties will emerge with their finances and reputations intact.
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