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D.I.C.E. – The Story Behind Exiting a Business

Forming or starting a business can be a great learning experience for many people, as it requires you to start something with a plan for how it ends. That is, as popular author Stephen Covey would say, “Begin with the end in mind.”

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How Dependent on You is Your Business?

When it comes to selling a business, there are many factors that play into how much a business is worth, and how eager prospective buyers will be to put in an offer. There are many obvious ones, such as size of the customer base, stability of employees, age of technological equipment, etc. One of the less obvious factors, however, is how important you are to the business.

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Patience is a Virtue When Selling a Business

The decision to sell a business is likely going to be fraught with uncertainty and emotion, and plenty of time taken to consider all possibilities and options. Some people just up and decide to sell their businesses, but far more likely, the decision-making process is months or even years in the making.

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Buying a Business: Taking a Closer Look

So, you came across some money, and have made the decision to buy a business. Congratulations! Owning your own business is one of the most proactive, practical, and responsible decisions you could make.

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Buying a Business: How Do I Start Looking?

Building a business is immensely difficult. You have to have a strong idea, be able to market it well, hire the right people, have systems in place to allow growth, and have the patient hard work to never give yourself a break until it turns into a success.

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Selling a Business? Show Your Paperwork

The road to selling a business is always long. Usually feelings will start to build up over time, and ultimately, when someone finally decides to go forward with a sale, they tend to have had it on their mind for a while.

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What Will I Do After Selling My Business?

For many entrepreneurs, the main goal they’ve held onto through the years of hard work and stress, and in their loftiest dreams, is being able to sell their business for a big profit and relax. Often times, though, once that point approaches, panic sets in.

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Pick the Right Executors and Trustees

One of the most important things you can do with your estate plan is pick the right person to carry out your wishes. Even if you have the most detailed, elegant, and absolutely perfect estate plan, if you pick the wrong executor, there can be years and years of frustration and difficulty ahead for your loved ones.

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Check Your Estate Plan After a Divorce

If you are currently undergoing a divorce, or recently went through one, it is likely your brain is filled to capacity with concerns, worries, and stresses. Once you have any small semblance of peace, though, it is important to add one more thought to the list: Estate planning.

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Prenuptial Agreements and Estate Planning

Just a few short decades ago, prenuptial agreements were all but unheard of. They weren’t for ordinary people, but rather for rich famous couples who were unlikely to last anyway. Nowadays, however, they have become more commonplace, and for valid reasons.

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