What Michigan Business Owners Should Know About Exit Planning
For business owners in Michigan, building a successful company often involves years, even decades, of hard work, risk, and personal sacrifice. But when it comes time to transition out of the business, many owners find themselves unprepared for the complexity of the process. Whether you plan to retire, sell, or pass the business to a family member, a sound exit strategy is critical, and too often, it’s an afterthought. Effective exit planning is about more than just maximizing a sale price. It’s about aligning your personal goals, business value, and long-term financial needs into one cohesive strategy. Without that alignment, you risk leaving money on the table, or worse, putting your legacy and livelihood at risk. Why Exit Planning Matters You’ve likely spent years growing your business, hiring the right people, and managing operations. But preparing for life beyond your business is a different kind of challenge. It involves questions like: Will your business support your lifestyle af...