So where does the business owner start? It's my suggestion Telephone Number List that one of the starting places is with a transition plan. A transition plan, at its simplest level, is an attempt to define the needs of the business Telephone Number List owner and then systematically move to their desired outcome. And I am not just talking about the actual process of selling the business.
I would suggest the owner go back to some Telephone Number List more basic level and understand why they are selling, what they hope to achieve and probably most important of all, what are they planning on moving to and are they excited about it. If they are not excited about it, chances are they will do all the work to get the Telephone Number List business ready for sale, advertise and market the business, qualify the buyers, negotiate a deal, do all the due diligence.
Prepare to close escrow and then change Telephone Number List their mind because they would prefer to continue owning and operating the business than playing endless rounds of golf or become a full-time babysitter Telephone Number List looking after the grand kids etc. So what should be included in the transition plan? The questions and answers can be endless. It's what makes sense to the owner and their specific situation. Some sample ideas include the following: