OFB 34 | Why Over 90% of Businesses are Worth Nothing to a Buyer
Open For Business
English - June 15, 2012 10:50 - 45 minutes - 51.7 MBInvesting Business News Business News business entrepreneurism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
When it comes to exiting from their most valuable asset, their business, 90% of business owners do little to no planning. Last night on Open for Business Ken Savino, Partner with North Star Wealth Partners, joined Tom Russo and Ken Cook to explore why.
Ken Savino believes you should start your thinking and planning for an exit around 10 years from the date you desire to leave. Yet so few owners do. And there is an ever increasing number of baby boomers who own businesses, and they are all reaching the age where continuing to run their company is becoming less and less appealing.
The negative repercussions from not planning can be many, and definitely not good. Having to sell below market value, settle for poor contract terms, or lay off employees are just a few of the unfortunate outcomes. Listen in as Tom Russo, Ken Cook and Ken Savino help you avoid these pitfalls and plan for a better result.