Part 3: Now it's time to ask yourself, what's my business worth?

You may recall that in my previous blogs, I mentioned that most small and medium business owners were depending on the sale of their business to fund their retirement.

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You need to ask yourself; do I really have enough to retire?

I asked you a simple but very important question in part 1 and part 2 of this series about business succession planning. You need to ask yourself this question now if you own a small business.

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Part 2: Business Succession Planning: So then, where do we start?

Well, in the words of Stephen Covey (7 habits of highly effective people) , begin with the end in mind:

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Part 1: In small business, planning is the key to your financial independence.

Over the next couple of months, I am going to write a lot about the importance of succession planning.

Small businesses, especially those operating in regional locations across Central Queensland need to have clear succession plans in place in order to help them achieve financial independence.

With the tough economic climate in Central Queensland’s, the time to plan for your future is now, not later.

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Scouts honour… Be prepared this EOFY!

A lot of businesses in Gladstone are prepared, sure.. but just as many are not ready for the up-coming end of financial year.

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