Develop your planThe goal of most small business owners is to create a business that they can sell to finance their retirement. Unfortunately, most small business owners are ill-prepared to sell their business because they fail to plan for it.

There are a lot of things a small business owner can do to make the business more sellable and to increase its value. However, as a small business owner, a lot of what you do is focused on avoiding taxes or growing the business, which can also negatively affect the value of the business when it comes time to sell. If you are planning on selling your small business you should meet with your CPA, your attorney, your banker and a business broker at least 3 years, preferably 5 years, prior to selling the business so you can maximize the value of the business when you put it on the market to sell it.