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July 4, 2023

In this episode of “The Real Bottom Line” podcast, the host discusses the importance of planning for the end game of a business. While the podcast typically focuses on interviews with entrepreneurs at different stages of their business journey, this episode delves into the topic of succession planning and exit strategies. The host shares insights from a survey conducted by the Canadian Federation of Independent Businesses, which reveals that a significant number of Canadian business owners plan to exit their businesses in the next decade, representing a massive transfer of capital and assets. Surprisingly, only a small percentage of business owners have a formal transition plan in place.

The podcast emphasizes the need for business owners to view their businesses as valuable assets and explores various strategies for transitioning the business to new owners, such as selling to non-family buyers, family members, or employees. The host also discusses the challenges and barriers faced by business owners when it comes to succession planning, including finding suitable buyers and accurately valuing the business. The episode highlights the importance of seeking professional help and engaging in exit planning early to maximize the value of the business and ensure a smooth transition.

Read my article about the importance of Exit Planning: https://blackstarwealth.com/the-importance-of-exit-planning-preparing-for-the-future-of-your-business/

Join the From Bottleneck to Breakthrough Entrepreneurial Challenge

We will walk you through exactly how my clients have increased the value of their business and revenue so that they can spend more of it performing in their genius zone, make more money and build a more valuable company. 

Starting on May 6-10 at 11 AM ET daily:

Day 1: Design Your Ideal Day

Day 2: Unlock Your Genius

Day 3: Master Letting Go

Day 4: Leverage Your Time Blueprint

Day 5: Build Momentum

Wendy Brookhouse

Wendy Brookhouse

FOUNDER OF BLACK STAR WEALTH™

Wendy has been getting people to their financial goals faster and easier than before for over a decade. She has known what it’s like to control cash flow from childhood, where her first job was raking blueberries for ten cents a pound.

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