“Exit Planning? I’ll start soon—I’ve got plenty of time.”
“Exit Planning? I’m too busy. I just don’t have enough time.”
The problem with both of these statements is that active business owners seldom slow down. We all know that the only things likely to reduce your pace are death or terminal burn-out. This is not to imply [...]

We have all heard the old proverb that it’s dangerous to put all of your eggs in one basket.” But does the proverb apply in the world of business ownership? Specifically, is it a valid warning or just a worn-out cliché? It seems to make good sense to concentrate all of your business effort and [...]

Making Sure the Business Continues When You Don’t
Greg King barely survived helping his oldest son learn to drive and now it was time to teach his younger son. Before putting himself through on-the-road training one last time, Greg called his life insurance representative. “I have no co-owners to buy my company if I don’t come [...]

There may be nothing worse for a business than to have its owner suddenly die. . . especially if it’s your business.
Let’s look at what can happen when an owner dies.
Joe Carpenter was the 55-year-old sole owner of a successful construction company. Joe hoped to sell his company to a third party in the next [...]