Business Transition Emotional IQ Test • Family Legacy Alliance, LLC

Business Transition Emotional IQ TestJenn Hess2020-04-15T21:36:15-05:00

Assess your Emotional IQ with this test, and determine if you're ready to start pursuing a business transition.
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Do you want to sell your business?*
Yes No
You built the business, you run the business, do you believe you need assistance handling the process of selling the business?*
Yes No
How long do you expect to keep working for the business after ownership transition?*
Not at all Less than 1 year 1-2 years 3-5 years 6+ years
Can the business sustain and succeed if you are not involved?*
Yes No
What kind of salary (if you stay) or severance (if you leave) will you require?*
Are you prepared for the reality that the “new” owners may not want your involvement?*
Yes No
Is the sale of your business contingent on members of your team staying involved in the business?*
Yes No
If you are not involved going forward, are you prepared for the reality that once closing documents are signed, you may not be permitted contact with clients, customers, and perhaps employees?*
Yes No
If you sell your business, your valuation may not be the buyer’s valuation. Are you willing to compromise on sale price?*
Yes No
Have you considered asset protection to ensure that your taxes will not erode your exit plan?*
Yes No
Have you taken into consideration what happens if you become disabled while this plan is being worked out?*
Yes No
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