If you co-own your business, the business-continuity agreement (or buy-sell agreement) is one of the most important documents that you will sign. If you have a buy-sell agreement that is out-of-date, not reviewed, or focuses on the wrong issues, it may be worse than having no agreement at all.

Today, we discuss the essential elements of a plan owners use to transfer a business to insiders that keep the owner in control until he or she is paid the sale price. If you suspect that the children, key employees, or co-owners you would pick to succeed you do not have the funds to cashRead more about Elements of a Plan to Sell to Insiders[…]

Steve Smith was no different than millions of other baby-boomer business owners in that the thought of leaving his business was never far from his mind, no matter how far away his exit might have been. He daydreamed about transferring the business to his oldest daughter and perhaps to a member of his management team,Read more about Avoiding Disasters in Insider Transfers[…]

If you think that planning for the biggest financial event of your life is a good idea and prefer an approach other than “wait and see,” what can you do to make sure your company is ready to sell when you decide the time is right? Step One: Define your Exit Objectives: How much cashRead more about Are You and Your Company Candidates for a Third-Party Sale?[…]

“In preparing for battle, I have always found that plans are useless but planning is indispensable.” Dwight D. Eisenhower (As quoted in Six Crises by Nixon, Richard (1962). “Krushchev. “Doubleday.) General Eisenhower’s point was that the process of creating a plan provides value because it forces the planner to consider (and make provision for) “WhatRead more about Why Exit Planning? Why Now?[…]