Did you know that your business is an Illiquid asset? And that most of your wealth is tied up in this business?

If you are within 5 - 10 years of retirement, how do you plan on exiting from your business while preserving your wealth & maintaining your lifestyle?

You must ask yourself these (3) Questions:

1. Is my business salable or what can I do to improve the saleability of my business?
If you were to put your business on the market today - would you get an asking price that you could live with? If not, what can you start to do now to improve saleability? Is the business turn-key? Are company policies and procedures documented to provide for a smooth transition for a new owner? These are just some of the questions that you must ask yourself.

2. What is my business worth?
You might have a figure in your head -but this figure is often based on emotional factors. One way to get a good third party opinion is to hire an expert experienced in business valuations.

3. How can I exit from my business and maintain my current lifestyle?
Your business provides for you and your family. It pays your bills, your living expenses, your medical needs and it funds your retirement. If you are contemplating an exit from your business - whether you plan to retire or just transition into another income producing venture - you have to know how much money you will need to maintain your lifestyle.