A Lesson for Business Owners from Last-Minute Shoppers

With only a few days left before Christmas, my “To Do” list contains a few final unchecked items. I’m typically very good at planning, so where did all the time go?

Looking back at my calendar I see that I missed a week of shopping because of sick kids. Then a there were a few days where Huntsville had closures due to dangerous snow and ice, followed seven days later by closures from deadly storms and tornadoes. With little time left, family members called to schedule surprise visits and others moved their visit dates up a few days. These disruptions were completely out of my control and cut my shopping time short.

Considering everything unexpected that’s happened, I’m so appreciative of all the Christmas shopping and planning I did way back in November. At the time it felt too early to get started, but I had been down the holiday “crunch time” road before and knew better, so I pushed forward.

Those November efforts have been the backbone of all my Christmas plans this year. My most important holiday preparations were covered early and now the only items left on my list are easily doable.

For business owners, planning for retirement can be a lot like early Christmas shopping. It’s easy to see your exit as a date that’s far, far in the future, thinking, “It’s not close enough to get started” and “I have plenty of time.”

But unexpected things happen.

It only takes one illness or emergency to create a situation where your ideal timeline is shortened. All the time you expected to have for preparation, can suddenly evaporate.

I encourage business owners to begin planning their business sale 3-5 years from when they expect to exit. Knowing your options and where your business stands in the current market, can help you create a plan, then if something unexpected happens you have a valuable head start and advantage to maximize your price.

Alliant confidentially consults business owners at no cost or commitment, to determine their probable selling price, exit options, and likely timeline.

Contact me at 256-503-2806 or angela@alliantbroker.com for more information.

By |2019-12-23T19:48:19+00:00December 23rd, 2019|Selling Your Business|0 Comments

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