We have helped many people get to the finish line and cross it with success. But, walking out the door is never easy. Besides the emotion of walking away from a huge part of their lives, there are other factors that can cause stress in the sale or transition process.
- Stopping before the finish line: Put the travel brochures away and keep the golf clubs packed until the weekend. A dip in revenue means less money from a new buyer.
- Rattling the troops: Employees should strategically be part of the process. They need to feel secure and you don’t want employee turnover when you’re looking for a buyer.
- Customer knowledge: A great way to hurt a sale is to lose customers. Transition information should be timed well.
- Jumping in too early: Did you go to prom? Was that who turned out to be Mr. or Mrs. Right? Don’t be discouraged if the first potential buyer isn’t the right fit.
- Position of control: If you have a successful practice now, taking steps to make the sale part of, but NOT ALL of your retirement can be crucial to success.
A successful marathon takes time and proper training. Taking the right steps will get you across the finish line successfully.
Other resources: https://www.sba.gov/managing-business/closing-down-your-business/selling-your-business
Cornerstone Benefits Consulting, LLC
416 George St. Suite B6
DePere, WI 54115
888-978-6631
920-243-4188
www.YourCornerstone.net
