Exit Strategy

In response to a 2008 PNC Wealth Management survey, Lander, J.D., L.L.M., a senior wealth planner and vice president of PNC Wealth Management stated, “Business owners who have put a lifetime into their work often have a mindset that ‘no one can run this business better than I can.’” That’s why it’s important to have a strategy in place ahead of time.

If you ask a group of business owners, many will indicate that they are interested in selling their businesses in five years. For some reason, it seems that five years is a very popular timeframe. However, the real questions that must be asked of a business owner are:

Are you ready?
Do you have the correct people in place? Today? Down the road?
Will there be a buyer in five years (or when you’re ready to sell)?
Is the value realistic to fund your retirement years or your next endeavors from the sale?

The sooner the planning begins, the better I believe your results will be. Sometimes five years of planning might not be enough. Once the transitional plan is mapped out, the owner is able to still feel a degree of control and remain in the loop and at the helm to the extent that is specified during the planning process.

Contact St. Croix Advisors today to learn more. We are located in Hudson, Wisconsin, and serve a number of areas in Wisconsin including Hudson, Eau Claire,New Richmond, and River Falls, as well as the St. Paul/Minneapolis area in Minnesota. Our services include wealth management, retirement planning, financial planning, estate planning, asset protection, life insurance, long-term care insurance and expenses, to mention a few areas. Our President, Brett Anderson, can assist you with any questions you may have prior to scheduling your first appointment. Brett can be reached at 651-337-1919 or .

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