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In this episode of "The Real Bottom Line" podcast, the host discusses the importance of planning for the end game of a business. While the podcast typically focuses on interviews with entrepreneurs at different stages of their business journey, this episode delves into the topic of succession planning and exit strategies. The host shares insights from a survey conducted by the Canadian Federation of Independent Businesses, which reveals that a significant number of Canadian business owners plan to exit their businesses in the next decade, representing a massive transfer of capital and assets. Surprisingly, only a small percentage of business owners have a formal transition plan in place.
The podcast emphasizes the need for business owners to view their businesses as valuable assets and explores various strategies for transitioning the business to new owners, such as selling to non-family buyers, family members, or employees. The host also discusses the challenges and barriers faced by business owners when it comes to succession planning, including finding suitable buyers and accurately valuing the business. The episode highlights the importance of seeking professional help and engaging in exit planning early to maximize the value of the business and ensure a smooth transition.
Read my article about the importance of Exit Planning: https://blackstarwealth.com/the-importance-of-exit-planning-preparing-for-the-future-of-your-business/
Show Notes
In this episode of "The Real Bottom Line" podcast, the host discusses the importance of planning for the end game of a business. While the podcast typically focuses on interviews with entrepreneurs at different stages of their business journey, this episode delves into the topic of succession planning and exit strategies. The host shares insights from a survey conducted by the Canadian Federation of Independent Businesses, which reveals that a significant number of Canadian business owners plan to exit their businesses in the next decade, representing a massive transfer of capital and assets. Surprisingly, only a small percentage of business owners have a formal transition plan in place.
The podcast emphasizes the need for business owners to view their businesses as valuable assets and explores various strategies for transitioning the business to new owners, such as selling to non-family buyers, family members, or employees. The host also discusses the challenges and barriers faced by business owners when it comes to succession planning, including finding suitable buyers and accurately valuing the business. The episode highlights the importance of seeking professional help and engaging in exit planning early to maximize the value of the business and ensure a smooth transition.
Read my article about the importance of Exit Planning: https://blackstarwealth.com/the-importance-of-exit-planning-preparing-for-the-future-of-your-business/
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Tired of money advice that feels complicated or out of touch?
Discover Freedom Files from Black Star Wealth — a bi-weekly dose of smart financial insights and real stories about building a life on your own terms.
Because freedom isn’t someday — it’s something you design.
Subscribe now at blackstarwealth.com/freedomfiles
Creators and Guests
What is The Number?
The Number is a business podcast about the numbers that actually run your business.
Each episode focuses on one number. Revenue, profit, cash flow, capacity, time, valuation, customer cost, risk, or exit readiness.
Hosted by Wendy Brookhouse, and often joined by Kelsey MacAulay, the show breaks down what that number means, why it matters, and how it should influence the decisions you make as an owner.
Some episodes feature guests. Some are honest conversations. Some are solo deep dives.
If you own a business and want better clarity, better decisions, and better outcomes, it starts with knowing your numbers.