At some point, you will leave your business—with or without a well-defined plan.
Planning for succession is oftentimes left until the very last moment, as business owners struggle to create a detailed strategy in advance. In fact, only 13 percent of business owners have any succession plan at all.
It is a crucial part of being a responsible, effective leader to ensure that you know your business’s value at every stage. Knowing the value of your business will ultimately determine the manner in which you can leave it.
Will you have an income to sustain you in retirement? Do you know the best way to transition your business? Will you be in a position to leave a financial legacy to your family?
The truth is, flying blindly without knowing the value of your business can put all of that at risk.
In many cases, business owners are too busy to stop making their widgets to find out the answer to these questions. Some are too afraid to know—ignoring the possible details of a valuation for fear of the worst.
Fortunately, Legacy Advisors Network is here to determine the value of your business and create an effective succession plan for your eventual transition.
For those of you who may think the process will be overly time-consuming or invasive, think again! One of our trusted advisors is ready to provide you with an estimated business valuation in a few short steps.
Don’t save succession until the last minute. Legacy Business Advisors Mid-Atlantic can help you create a comprehensive plan with your end-game in mind. Contact our team of experienced advisors to learn more by visiting www.lbamidatlantic.com