Know Your Exit Options
Which Is the Best for You?
“Tim, you will not believe what the prospective buyer said to me,” said a client. “The buyer was joking about the sleepless nights my employees will have once they find out that I am selling my business and how they won’t know who will survive.” This is not the right thing for a buyer to joke about to someone in turmoil about the fate of his employees after he sells his business.
Prior to this phone call, I spent a few months with this client determining his best exit strategy. He had one son who was in the business, but he had quit and was not interested in becoming an owner. Passing the business ...
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