During conversations with hundreds of successful owners, I discovered some common misconceptions about them exiting their businesses and harvesting their trapped wealth. If you do not understand the following truths and myths, you are probably putting your business wealth at a high level of risk.
Do not find yourself in the red zone of your business career only to fumble the ball before the end zone. The fact is more than 70 percent of private businesses fail to transfer to the second generation or to an outside buyer. Ironically the odds get greater into the succeeding third, fourth and future generations.