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As a business owner, there are plenty of things you need to keep in mind to run your business smoothly. As a result, your exit plan can often go untouched.
However, it is important to think about your exit strategy well before you plan to leave.
In this episode, Tim Scannell lists 10 things that you should start thinking about so that when it comes time to retire, the transition of your business will run smoothly.
Tim discusses:
- Why you should understand what your involvement in your business will look like once you retire
- The importance of thinking about the obstacles you might encounter when you exit your business
- Assessing the value of your business and why it is key to do that before you leave
- Thinking about your greatest challenge when you leave your business
- And more
Related: What To Do When You Hit Your Financial Freedom Point