For a business founder, their ”investment” in the business is multi-dimensional: financial and emotional. Selling the business isn’t just an event, it’s a journey. So argues the author of this article, an author, advisor and figure in the wealth management industry.
There is a lot of commentary at the moment about business owners selling and transferring what they have built. It is an emotional and challenging process and the field is littered with stories of owners wondering if they had sold a business too cheaply, or that the process was arduous and complicated. Advising such business owners on these transfers is a big growth area in the North American wealth management industry.
To talk about the topic is David Werdiger, who is an advisor on intergenerational wealth transfer, a succession planner, adjunct professor, speaker and author. This news service is pleased to share these views with readers and invite responses. The usual editorial disclaimers apply.
The number of businesses bought and sold hit a record level in 2018 (1). Yet, the majority of business owners fail to prepare for a sale-ready operation, leaving five to six figures on the table for any one transaction. This article gives three key essentials to being prepared and optimizing for a better profit.
Read the full article at https://www.fwreport.com/article.php?id=186400
Actionable Generational Wealth Succession: For more in-depth, thought-provoking discussion points and commentary on family and business, access my Familosophy newsletter archives: www.transitionbook.co/member-area/