For owners, selling
a business can be a complex moment.
After all,
for many, your business is your most valuable asset.
Which means that the sale isn't just emotionally complicated.
But it could also be crucial to positioning for what's next in their life.
Whether it's another business venture, retirement,
or pursuing another passion.
Here are four key considerations to guide us.
First, envision your life after the sale.
What does it look like?
Are you relaxing on a beach?
Mentoring startups or spending more time with family?
This vision isn't just motivational.
It shapes every decision we make.
But we also need to think about what happens if the sale doesn't go as planned.
Exploring alternatives like transferring the business to a partner
or family can reduce risk and keep your options open.
Next, let's focus on cash flow.
The sales price of your business sounds impressive,
but it's the net proceeds
after taxes, debts, and fees that matter.
You'll need to know how much income it takes to support your new lifestyle.
Don't overlook expenses your business currently
covers like car travel or club memberships.
Those can catch you off guard when they shift to your personal budget.
Understanding these needs may
help provide better clarity in your cash flow.
Planning.
Third, planning early is critical.
Ideally, you're thinking 2 to 3 years ahead.
This isn't just about finding a buyer.
It's about positioning your business to maximize value and to minimize taxes.
Your wealth advisor, tax expert,
estate planner, and legal team all need to weigh in.
Together, we'll map out
how the sale fits into your broader financial picture,
especially if retirement is on the horizon.
Helping ensure the proceeds translate into sustainable cash flow.
Finally,
keep your excitement for what's next front and center.
This sale isn't an end point, it's a launching pad.
Whether it's more family time, a new business, or a personal passion,
what you're working towards will guide our planning and cash flow strategy.
Your enthusiasm for the future is what makes this transition meaningful.
You've built something remarkable.
Let's make this sale a bridge to the life you've always dreamed of.
Murphy, private wealth group is here to guide
you every step of the way.
I'm Wil Murphy, and it's an honor and privilege
to serve a select group of clients,
helping them to build, manage, and protect their wealth.
Balancing emotions and feelings with reason and logic
to improve financial decision making.
Thanks for watching.