At some stage every business owner must sell or pass on - transition from - their business. Many business owners have predicated their post exit plans on having a nice nest egg from the sale of their business.
What will it really take for a business owner to successfully extract themselves from their business? To leave on their own terms; when they want to; and get the price they need?  Here is a plan of attack:

1. Strategically decide WHAT you want to have happen
2. Plan HOW you are going to make it happen
3. Actually GET ON with making it happen
4. Remember Transition Planning can bring immediate benefits too

Even if retirement seems a long way off and even though some things are going to change your ultimate goals as time goes by, the fact is that because transition planning revolves around taking steps to improve the value of your business there will usually be some immediate benefits from starting the process.  Benefits include more profit, higher efficiency, greater peace of mind and a clearer focus.

Anecdotal evidence has determined that the business that achieves the highest value on sale has good systems in place, a stable team, a focus on where the business is going & a loyal customer base.  On top of all that the business can operate effectively & efficiently when the owner is not there.