Is your business ready for the baby boom bust?
Abstract: The oldest of the baby boomers currently are winding down their careers, including thousands of manufacturing business owners. But baby boom entrepreneurs are expected to face fierce competition when courting potential buyers. This article offers advice to help sellers position their company for a successful sale amid the buyers’ market of the coming decades. It discusses creating a transition plan and fixing company weaknesses before putting it on the market. A sidebar lists a few basic steps to establishing a successful succession plan.