One of the Seven Habits of Highly Effective People is to begin with the end in mind. It’s never too early to look at options. It is recommended that you begin the planning process at lease three years prior to your planned transition date. Seeking out confidential professional advisors such as a personal financial planner, a CPA, and those at your local Small Business Development Center is a great first step.
- Plan Your Exit (SBA)
- Deciding When and Whether to Sell Your Business (NOLO)
- How to Create a Business Succession Plan (Investopedia)
- Putting a Value on Your Business: Why and How (SCORE)