When Is the Right Time to Prepare Your Business Estate Plan? What Happens to Your Business When the Bus Finds You?
If you are a “baby boomer” business owner, you have most likely done some estate planning with your attorney, just in case you happen to be standing on a corner and are greeted by the proverbial bus.
You’ve probably also given some thought to transitioning your business to family members, key employees or finding a buyer outside your business. But you do have a business to run, so that work usually gets pushed aside for another day.
Unfortunately, if you are like most business owners, you simply can’t have an effective estate plan without having an effective business exit strategy. Your business and personal lives are so interrelated that you can’t do one without the other.
You don’t need to be planning to transition your business now to get started on your business estate plan. Once complete, it’s easy to update and readily available in the event that bus ever finds you on a street corner.
Arizona Business Transitions and Local First Arizona are going to be posting articles, courses, and hosting workshops in the coming months to help guide Arizona baby boom business owners through this process.
We hope you’ll explore some of our articles from time-to-time in the Local First Learning Lab. Please complete the survey linked below to help Arizona Business Transitions and Local First Arizona create relevant articles and course work to guide you through this process.
Meet Alex Walsh, Founder & Chief Executive Officer
Alex has advised hundreds of small businesses on strategic planning, business development and all areas of corporate finance, specializing in helping business owners sell their business or raise capital for growth and acquisition. In his work with business owners, he has found many have done very little planning for an eventual transition away from the day to day operations or out of the business altogether.
As a native Arizonan, his passion is working with and advising local companies and helping business owners gain comfort in their eventual retirement and have the knowledge that when
Take Our Transition Strategy Survey the time comes to sell the business they have a well-designed plan of action already in hand, a good idea of what that business is worth, and who the next owner will be. He founded Arizona Business Transitions to assist business owners plan for an exit or transition, even if that transition is not on the horizon.
Alex graduated from Brophy College Preparatory and later graduated from DePauw University with a degree in Economics and Management. He is a member of the Tempe Diablos Charities and lives in Tempe with his wife Trish and two boys, 10 year old Carter and 7 year old Aidan.
About Arizona Business Transitions:
Arizona Business Transitions specializes in helping business owners prepare for their business transition, whether they need to transition their business now or are looking ahead two, five or more years.
Let’s address the lack of clarity, urgency, humility, strategy, realistic valuation and discipline for your business transition together. www.transitionyourazbiz.com