The “1 in 60 rule” comes from aviation: for every 1 degree a plane deviates from its course, it will miss its destination by 1 mile for every 60 miles travelled. Now, imagine applying this concept to selling your business—one small mistake early on can cause you to miss your goals by miles when it’s time to exit.
Whether it’s failing to plan for taxes, misjudging the value of your business, or overlooking key buyer concerns, minor missteps at the beginning can snowball into missed opportunities, lost value, or unintended consequences.
To keep your exit strategy on track, make sure to:
● Plan early: Understand your objectives and develop a strategy that aligns with them.
● Seek expert guidance: Work with professionals who specialize in business transitions to avoid common pitfalls.
● Refine and adjust: Stay adaptable and revisit your strategy as circumstances evolve.
At JN Private Wealth Management, we help business owners stay on course by creating personalized strategies designed to support a smooth and successful transition.
Don’t let being “slightly off” today result in a major missed opportunity tomorrow.
Let’s discuss how we can help you exit strategy your business the way you want.
Schedule your consultation today at JNPrivateWealth.com.
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