Many baby boomer business owners are thinking they "are ready" to leave their business in next 1-2 years and begin their retirement or third act in life.  With the economy growing and the number of investors seeking quality businesses to buy, many are thinking it could be an opportunity to "sell high" and accomplish their financial goals.

When we’ve lived in a house for years and then consider selling, we have the decision to make, “Do I upgrade things like the kitchen, bathrooms, and roof, or “sell as is”? Perhaps the potential seller wants or needs to sell quickly due to declining health or some other extenuating circumstance. And, the thought of making all the remodeling happen in a short period of time is painful. It will take a lot of time and money, and so they wonder “Should I just sell as is?”

With the help of her Exit Planning Advisor, Betty has decided that a sale to a third-party buyer would best accomplish all of her goals (financial; values-based; legacy).

The process of quantifying her business and personal resources, with a financial gap analysis, has been helpful to Betty in determining her departure date in six years. She now knows the current fair market value of her business, and how much it will need to increase in value for the attainment of her financial objectives at sale in six years.

In my past life, when working in the financial services/wealth management industry, we helped individuals and families create financial plans for their goals such as college education or retirement.  It was very unusual to have a conversation with a client or prospective client who did not already understand that the sooner they began planning the better chance they would have in achieving their goals.