Columbus Smart Business Turns To Rea BV Leader For Exit Strategy Insight
You can never start thinking about exiting your business too early. At least, that’s what Tim McDaniel, a principal and director of business valuation services at Rea, told Smart Business in an article about succession planning.
In the article, “How to ensure that you leave your business on your own terms,” McDaniel explains that, in
order to get more value from the business, owners must change their perspective. They must begin looking at the company through a different lens.
“I’ve been trying to encourage owners to think of the business as an investment,” said McDaniel in the article. “Because it is likely the biggest investment they have. Studies show that over 50 percent of the net worth of business owners is related to ownership.”
Find out why business owners fail to treat their companies like an investment, what needs to be considered when planning an exit strategy and how long in advance of an exit should a business owner begin planning.