How To Sell Your Solo Business: Turning The Company Into An Asset
By Cayucos Wealth
Published On July 11, 2024
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For many solo business owners, the day-to-day demands of running a practice leave little time to think about an eventual transition. But as this article points out, having a plan for how you’ll one day exit can be one of the most valuable pieces of your long-term financial strategy — and a major contributor to your retirement readiness.
It highlights why building a brand beyond yourself, paying yourself a market-based salary, and thinking intentionally about who might take over your business can all increase its value when the time comes. These steps don’t just prepare the business for sale; they also provide structure and protection for you and your family.
If you’re a solo practitioner or entrepreneur, this is a great reminder that your business is an asset — and with the right planning, it can continue to serve your financial goals long after you’ve stepped away.
Read the article.
https://www.forbes.com/sites/ryanderousseau/2023/06/30/how-to-sell-your-solo-business-turning-the-company-into-an-asset/