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Around 2/3 of small businesses never sell and are just closed down when the owner retires. Of those that do sell, the average sales price is about 1/2 of what the owner thinks it's worth.
Given those dismal numbers, you need to do everything you can to help make yours one of the ones that does sell when you're ready. You've invested way too many precious years and dollars to end up with nothing sellable at the end.
This book was written to help you understand how you can use affordable, readily available online tools to help make your business more marketable and valuable and, more importantly, why not using them could be deadly when you're trying to sell.
Over the years our CEO, Lisa Kipps-Brown, noticed that too many Boomers aren't keeping up with the changes in technology that can help their businesses be more valuable and marketable to others, especially to younger buyers. It's already hard enough to sell a business, but this technology gap is only making it harder.
Boomer Cashout is the result of the crossroads of two of her passions: helping transform small businesses through smart use of the web, and helping Economic Developers support their local businesses to strengthen the economy.
The book isn't meant to be in-depth instructions of what to do, but more to introduce you to new technologies and ways of thinking that can help you make your business more likely to sell.
If you're considering selling your business in the next several years, it's critical that you start making changes NOW because you don't have much time left!
And if you're considering selling your business later than that, you can't afford to be complacent. You need to start seriously integrating web-based technologies now. An outstanding bonus is that your business can also become more proftable and easier to run while you still own it, freeing you up to work less and start easing into your retirement before you actually sell!
Don't let a tech gap become your retirement trap.