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Editor’s Note: This is part two of a two-part series that features the first chapter of the book, “The Contractor’s 60 Minute Exit Plan – How to Cash Out, Eliminate Taxes and Retire Comfortably.” For part one, see our December 2019 issue.
Exiting a business presents numerous pitfalls and challenges. Most owners — 70 percent — don’t manage to successfully transition the business to new ownership. The question then becomes: Why is it so hard to transition a business?
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