One of the saddest and most difficult situations for a business is when the owner becomes too ill to effectively manage the business.

Unfortunately, because many owners haven’t done proper planning, they try to continue to run their business while coping with their illness.  The owner suffers and the business suffers.

If a business owner becomes aware of a serious illness, he or she must not ignore the fact that every day that the business hasn’t been sold can drive the value down.

Marketability of a business these days can be a big question.  Is the business still relevant and profitable?  Does it have appeal and potential for future growth and cash flow?

Business owners need to take a hard look at their business to understand what makes it marketable and determine what steps to take.  They need to create a plan – which may take months or even years.

It is recommended to contact an advisor, such as an exit planner or […]