As one of the 22 million business owners in the United States, you are likely over 50 years old. According to a 2005 PriceWaterhouseCoopers survey of companies in the $5 million to $150 million of value range, there’s a two in three chance that you plan to leave your company in the next 10 years. Yet, only 22% of you report having done a great deal of succession planning. In fact, you are more likely to have an idea of what you will do, should you become disabled, than you are to have plans for your own voluntary and inevitable exit!

According to a US Chamber of Commerce Survey, only 20% of businesses listed for sale actually transition to a new owner! Without proper exit planning and understanding ALL of your exit options, you have an 80% chance of failure if you think selling to a third party is the only answer!

Given that your exit from your company is likely to be the most significant financial (and maybe even emotional) event of your life, what are you waiting for!