Kiplinger

4 Steps to Effectively Transition or Sell Your Business

Did you know 70% to 80% of middle-market, closely held businesses put on the market do not sell? And 83% of businesses lack a formal, written transition plan?

I've had many discussions with middle-market business owners about planning for the future in order to generate the most successful sale or transition of their business. In my September 2017 article, "Small-Business Owners' Biggest Retirement Mistake," I explained why a succession plan is critical to the future of any business, and now I'll address how business owners can develop and implement a strategic succession plan.

While this may

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