Small business owners preparing for retirement need to have a plan laid out when selling their businesses.
Larry Wasser, entrepreneur at the Rotman School of Management, recently conveyed to the Toronto Star the emotional toll that selling a small business has on the owner.
“I don’t know that you can prepare," Wasser told the news source. "But in every entrepreneur’s DNA is the burning desire to be successful, and they tend to be good at change. They need to adapt the skillset they’ve used at business and now use it on their own being.”
Small business owners are encouraged to plan accordingly, calculate the value of their business and not sell cold turkey.
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