A big thank you to Jayne McQuillan, President of Journey Consulting, for a fabulous seminar “Exit Planning…. It is Not What You Think!” We also thank Beth Manning, consultant, for joining. Wow… nearly 60% of surveyed WI businesses are owned by Boomers and 46% indicated they plan to transition their business within 5 years or less. Will this be you? If so, Jayne discussed the importance of planning now, getting a business valuation and developing a list of trusted advisors.
For many business owners, the thought of exiting their business is overwhelming. Some are afraid to leave what they know, some feel trapped by their role in the business, while others are not sure what is next. For those who prefer to keep their head in the sand, there is real risk. Fifty percent of exits are not voluntary owing to death, disability, divorce, distress or disagreement, and the pipedream that owners control the timing often rings hollow (to read more go to https://www.journeyconsult.com/blog-1/exit-planning-is-not-what-you-think).