Does funding your retirement depend on the sale of your business? There are some factors you may not have considered that can affect its monetary value, including how ready it is to be sold and how fast you want to exit.
You’ll need to take steps to education yourself – especially if you’ve never before had your business valued and aren’t sure what the payout of equity would be to you as the business owner. Succession and exit planning may seem like a simple process, but there are different ways to prepare for how your business will even be processed and sold. Depending on when you wish to retire, these plans should happen sooner rather than later. Having everything in place, along with a trusted advisor, will make identifying the right time to sell and moving forward that much simpler.
Read the full article on the Entrust Financial LLC blog featuring MPI Partner Tracey M. Jasey for three real-life illustrations presenting valuable tips to maximize a business’ worth.
For more information on navigating complex issues pertaining to business value and worth, contact Tracey M. Jasey.