You own a business. One day — whether it be in one year, 10 years, when you pass away, or at some other time — someone else will run this business. If you’d like to decide in advance who that "someone else” will be, you need a succession plan.

If you don’t have a plan, you’re not alone. Many business owners don’t adequately plan their succession, if at all. There are many reasons for this complacency — from their reluctance to "let go”, to fear of creating family disharmony.

Before you think about selling your business, you should ask the following questions:

Planning a business exit can be emotional. There are often personal and family dynamics that may conflict with a business’s wellbeing and planning an exit requires an owner to think strategically — preferably with a professional’s help.

The Milau Private Wealth Management Group specializes in this type of planning to help create a clear exit path that is simple and effective.

Contact us to learn more about how we can help facilitate the successful sale of your business.