Plan to sell in the next 20 years – read this article and worry.
Using the most realistically conservative assumptions possible, we are still short on third party acquisitions by 6,740 a month, or 300 per day for the next 20 years. Boomers can delay their decision, but not indefinitely. They will eventually exit their business — voluntarily or involuntarily. Notes Dini: “Sooner or later every business owner leaves his or her business, and the transition of the boomers will be like nothing ever seen in the small business universe.”
The gap between the number of successful business sales and number of businesses that want to sell is HUGE. What chance do you have if you’re not building transferable value?
What is transferable value? It’s value in your business that someone else can desire, document and duplicate.
Are you building that kind of value in your business?
How do you know?