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Tip #89: The owner of the business may not be ready to retire, but the business may be ready for a new owner.
Many older business owners, for whatever reason, aren’t willing to sell their companies. But businesses can go into decline without new ideas, new direction and new energy. Not selling the company can be risky. Too many things can go wrong as the owner continues to age — health issues, health issues of spouse, or the business can’t keep up with the times. It can be a tough decision, but timing is everything, and waiting too long to sell may have a very undesirable outcome.
