Legacies and Bucket Lists
By John P. Kelly – CBI, M&A Advisor
As you’re thinking about selling your business, it’s time to plan your bucket list. Because if you don’t spend time looking ahead, you could let fear of the unknown get in the way of a sale.
We’ve seen it happen. After 20 or 30 years of running a business, some owners just can’t let go. Their identity is tied too closely to the company. Ultimately, they stay too long and it negatively affects the organization.
Owning a business comes with emotional attachment. So make solid plans to transfer those emotions. Decide what you want your legacy to be. If you can invest yourself in new goals, you’ll have a better chance of being objective about a sale.