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Have you thought about leaving?  Your business that is.
04
Dec 2018

Have you thought about leaving? Your business that is.

By The CBA Group

Michael Norman


We should all consider this question, because like it or not all of us business owners will leave our business. While most owners understand the concept of mortality, you would be amazed at the number of people running businesses that think they are immortal when it comes to their own business.


It’s been said many times, and rightly so, that the day you start your business is also the day you should begin to plan your exit. While most of us put the decision off to a later time, sometimes too late, in the seventeen years that I have been a business broker I find myself astonished at the hundreds of people who say they have thought about their exit but are totally unprepared to actually do it.


Stop and think for a minute, if you own a business and have had any level of success, your business is your legacy. It is who you are, and it is a representation of what you have accomplished while running it. But make no mistake, you will leave your business! There are only four possibilities that exist for leaving your business. They are:


1. You might leave it to your children

2. You might transfer it to your employees

3. You may sell it to someone else

4. Or they will carry you out of it


Regardless of which of these inevitabilities happen, you should give some consideration to which of these will be yours. If you choose #4 you should give some consideration to the one who will have to pick up the pieces. There is no right answer other than the one most comfortable to you, but regardless of which direction you choose, get some input from someone who has the experience to give useful advice.


We here at The CBA Group have over 185 collective years of business experience and we are willing to help with all the possibilities I’ve just mentioned. Our philosophy is to help you decide based on what you’re comfortable with. We don’t pressure anyone to make a certain decision and we don’t charge you to discuss your options.


We are going to begin a series of articles to help with the process or you can contact me at 704-895-4274 or email me at mnorman@thecbagroup.com and I can discuss them with you now. Whatever you choose to do, please remember we are here to help.


Michael Norman
The CBA Group


Michael Norman signature

Michael is Managing Director of The CBA Group. He has over seventeen years of business brokerage experience with a combined total of over 50 years in business. In addition to handling several multi-million-dollar deals, his experience also comes from owning several businesses himself and serving in an executive management capacity of several organizations, including two public companies.

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