Mark Osborne explains why entrepreneurs need an exit plan. Half of business owners are forced to sell unexpectedly due to health crises, death, divorce, or conflict. Seventy percent of businesses that attempt a sale fail to complete it.
The startling statistic that I always think of is that 50% of entrepreneurs will be forced to sell when they're not prepared due to disease, death, divorce, disagreement. Like, for— so for half of all entrepreneurs, and I've given this, you know, speech at a conference room full of people, I'm like, look to your left. You don't even have to look back to your right. Wow. One of the two of you is going to find themselves in this position. And if you haven't done the things necessary for you to have a successful exit, then chances are you're going to fall into this other really sad statistic, which is 70% of businesses that try to sell
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