If you are like many of our clients, you own a business today. At some point in the future though, you won't. You aren't going to live forever and odds are you will sell the business to someone eventually. Or gift it to the kids.
Because of this simple fact, it's important to stabilize and grow the value of your business - while you own it - so that you're in the best possible financial position when you don't.
Stabilize Your Business
Most business owners are pretty good at managing risk and that is why they use buy-sell agreements. These agreements provide direction on what happens when any one of the "5 D's" occur:
A key element to stabilizing the value of a business - for you, your business partners, and your family - is a buy-sell agreement.
Increase Your Business's Value
#1) Evaluate your business as if you were the buyer
#2) Understand the Six Key Drivers of a Business's Value
#3) Decide what You Want to Do and Do It