Brian Spence There’s a lot of advice around on how to build a successful business, but a lot less about successfully selling one. But this is what all your hard work has been for, so how do you ensure that your exit is as fruitful as you dreamed when you began? First, have the right insurance and succession plans in place Insurance and succession plans are very often overlooked by busy entrepreneurs, but savvy ones must take care of these basics, particularly those with families relying on a business for their financial security. The illness or death of a director, other key employee, or even God forbid yourself, could lay waste to the value of a business. You need to take proper advice to get the right illness and life cover in place, and formulate succession plans that will protect the business and your family’s income should the worst happen. An up-to-date will is another must-have document. Make sure you’ve picked the right time It’s never easy knowing when … [Read more...] about Selling your business successfully: a five-step formula