Of the roughly 35 business owners who attended a recent Exit Planning seminar sponsored by The Charter Group, only one had a plan for how he would eventually leave his company. The result epitomizes how few business owners actually plan out their eventual departure from their businesses, said John Brown, author and founder of the Denver-based Business Enterprise Institute, a network of professionals that advises clients on business, estate and succession planning. Exit or succession planning is a process that needs to begin years in advance, he said. “The more time you give yourself to do this, the more options and opportunities you have. The less time, the fewer options and the less money you are going to get,” said Brown. MiBiz sat down with John Brown for an in-depth Q&A on the subject. more
