If you are even starting to think about transitioning out of your current business role within 5 years, experience proves that starting earlier is far better than starting later. And if your business has partners in it, and there is no buy-sell agreement in place that is fully funded, you are taking an unnecessary risk. Even if you are a sole business owner, if something happens to you between now and the time a transaction to sell the business is completed, the value of your entire business could go up in smoke, leaving your loved ones completely unprotected, and potentially losing the vast majority of what you have worked so hard to build. We caution our clients not to be penny-wise and pound-foolish when it comes to protecting the value of their business.
The video clips in the drop down menu are separated between transition planning videos and insurance related videos, which are just a glimpse of the information you will want to consider on your journey toward a successful business transition.
Once you have an idea on what is involved, the next step is to set up an appointment with Blue Sea Advisors LLC to learn more about us, the seven step business growth and transition process itself, and why it is necessary to start the process early, beginning with your desired financial goals, time frame, and obtaining a current and accurate business valuation.
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