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Start thinking now about how you will leave your
business because it is your baby and it will grow up. Like all of us,
businesses have a life cycle. They are embryonic (remember when you first had
that great idea?), are born, grow to maturity (oh, the challenge of those early
years!), live the adult life, age, and finally, pass on. If you create a
business with a longer life cycle than your planned working period, you'll have
something of value to hand over to someone else! As you build your business,
you are creating an annuity.
Topic for Discussion: What should you be
doing now, even though your desire to sell may be twenty years down the road?
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