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Go for the Gold

Maybe you've planned it since day one, or maybe you've taken years to decide. Now that the time has come to sell your business, find out what you can do to make sure you can come out on top.

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This story appears in the October 2004 issue of Entrepreneur. Subscribe »

"I sold my business" is a magical phrase for entrepreneurs. Just saying the words conjures up images of wealth, leisure and exciting new challenges. For many entrepreneurs, it's the goal, the reward, and the ultimate validation for years of struggle.

While selling out isn't every entrepreneur's objective, perhaps it should be, says Ned Minor, a transaction attorney in Denver and author of the book Deciding to Sell Your Business: The Key to Wealth and Freedom. "Eventually, every business owner will leave their business," says Minor, "either sitting down at the deal table, or feet first on a stretcher."

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