Read This First if You (or Key Clients) Are Considering Cashing Out
- by: Hank Berkowitz
- November 6, 2016
So many of you with successful businesses or practices dream of the day you can cash out. Wouldn’t it be great to sell the enterprise you worked so hard to build for a ton of dough and then sit back and travel, play golf, serve on a few boards and support a few of your favorite charitable causes? Not so fast.
If you haven’t taken the time to prepare properly for a liquidity event, you could find yourself financially and emotionally disrupted to the point that you aren’t enjoying life and you aren’t preserving your hard-earned wealth.
1. Ignore what made you successful.
2. Take a household view.
3. Understand different forms of risk.
4. Don’t gamble. Invest.
5. Control what you can control.
We typically our outreach efforts at least three months prior to release date and several of our clients have landed new business just by sending out pre-release chapters to their centers of influence for review.
TAGS: Blake Christian, preparing for liquidity events, cashing out