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013- 5 Myths of Exit Planning for Business Owners
Manage episode 421054753 series 3562982
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Summary
In this episode, the hosts debunk five myths of exit planning for business owners. They emphasize the importance of exit planning regardless of whether you are looking to exit your business now or in the near future. They also discuss the need for an exit team and a written plan, even for internal transfers. The hosts explain that the value of a business is not solely based on income or physical assets, but also on intangible factors such as reputation and systems. They caution against waiting until you are burned out to start planning your exit.
Chapters
00:00Introduction and Business Valuation Opportunity 01:33Episode 13: Five Myths of Exit Planning for Business Owners 05:43Myth #2: Internal Transfers Don't Require an Exit Team or Plan 08:11Myth #3: Large Income Equals High Business Value 10:33Myth #4: Consistent Multiples for Business Valuation 14:50Myth #5: Value of Business Based on Physical Assets 20:53Conclusion and Call to ActionEpisode Links:
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