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Juthi Rani
Jul 17, 2022
In Business Forum
While all businesses occasionally face uncertain revenue streams, the survivors in business have plans in place to deal with these variations...and can predict their revenues within an acceptable margin. Your Ouija board should consist of reports and evaluations of your business done with meticulous frequency. At some point in time in time every business Consumer Mobile Number Database owner will "exit" their business. In most cases, a small business represents a significant component of family wealth and the owner will be keenly interested in maximizing this Consumer Mobile Number Database value when the business is either sold to an outside 3rd party or key employee, or transferred through an orderly succession to a family member. Unfortunately, most entrepreneurs are Consumer Mobile Number Database so immersed in the daily demands imposed in operating their company that they have neglected to properly plan for the inevitable transition of their business. The goal of this article is to briefly review the exit/succession planning process and highlight the importance that these Consumer Mobile Number Database plans have for every business owner. Whether the goal is to exit the business in six months or ten years, it is critical that a business owner recognize that succession Consumer Mobile Number Database planning is the single most important way to take control of the terms and conditions of exiting their business. Proper exit planning will reduce Consumer Mobile Number Database the variability of the business control transfer, and can secure a sound financial future for their family. WHAT IS EXIT PLANNING? Exit Planning, also Consumer Mobile Number Database commonly referred to as "business succession planning," is a methodology that addresses three critical questions a business owner will face at some point in time: 1. What is the timetable the Consumer Mobile Number Database owner seeks to exit the business? 2. Who will succeed the owner when the business is transitioned or sold?
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Juthi Rani

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