Phoenix Business Blog: Death and taxes may be two certainties in life, as Benjamin Franklin once pointed out. But for business owners, there’s another sure thing: the time will come to exit the business.
Yet, in working with business owners in peer advisory boards, I’ve found that most business owners don’t plan for that exit. They think about creating an exit strategy, but in most cases, they don’t do anything about it.
Each day, business owners work hard to enhance the value of their business, which, aside from a home, is typically the majority of an owner’s total wealth. But too few of their activities are directed toward increasing the value of the business when it’s time to leave it.