The article emphasizes the significance of exit planning for business owners, drawing on the author’s reflection on their father's entrepreneurial journey. It stresses the importance of understanding the initial motivations for starting a business as owners prepare for retirement. By reassessing their goals over a 10-year timeline, entrepreneurs can ensure that their exit strategies align with their aspirations, such as achieving flexibility and maintaining social connections, ultimately leading to a successful transition.
In the end, we always look back at the beginning. What was the impetus for starting a business besides providing a living wage?
While most professionals agree that the more time you have to plan your exit... the more successful it will be.
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