Rick MacBarron - Exit Planning Takes Time

Rick MacBarron shares planning tips from his 30+ years of experience working with business owners and high net worth individuals.

Transcript: 

Bill: Two of the most frequently asked questions about exit planning are: when should I get started, and what should I be looking for? Here's Rick MacBarron. 

Rick: You don't want to wait too long, right? So, typically, the people that come to me are going to be in their 50s, early 60s sort of thing. You have lots of options when you have a 3-5 year runway before you intend to actually do something with a company. So you need some time, that's point number one. Point number two is that, in most cases, it is very, very important to take a careful look at the business and make sure that it's prime for an optimal sale. So, I got to know Andy and I got to understand how he was operating his company. He actually had four separate operating companies, and he did things where he moved money back and forth, and so forth. And one of the things that concerned me about that is how would a buyer perceive that? 

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