Is your legacy secure quiz - is your legacy secure

Question 11. Fast forward to the first Monday morning after your business is sold. The deal is done, the bank account is full, but your calendar is completely blank. What is the very first emotion you feel?Pure Relief – Finally, the weight is off my shoulders.Excitement – I can’t wait to start the projects I’ve put on hold.A low-level panic – What on earth am I going to do with myself?Empty – I honestly feel like I’ve lost my purpose.

Question 22. Be honest with yourself: When you meet someone new at a dinner party and they ask, 'What do you do?', how important is it to you to be able to say, 'I own [ My Company Name]'?Not important – I have plenty of other roles and interests to talk about.Somewhat important – It’s been a big part of my life, but not the whole story.Very important – It’s my primary identity and standing in the community.Critical – I genuinely don't know who I am without that title.

Question 33. Do you have a specific, non-business passion, project, or role that you are genuinely excited to dedicate 40+ hours a week to once you leave?Yes, absolutely. I’ve already started planning the details.I have a few vague ideas (golf, travel, grandkids), but nothing concrete.Not really. The business takes up 100% of my mental energy.No. The thought of 'retirement' actually sounds boring to me.

Question 44. When you think about handing over the keys to a new owner, what is the loudest thought in the back of your mind regarding your staff?They are professionals; they will adapt and thrive under new leadership.I have some concerns, but I need to prioritize my own future now.I’m very worried the new owners won’t understand our unique culture.It feels like a betrayal. I’m abandoning the people who helped me build this.

Question 55. Hypothetically, if a Private Equity firm offered you a premium price for your business today, but you knew they might 'streamline' (reduce) your workforce by 20%, how would you react?I’d take the deal. The numbers have to make sense.I’d hesitate, but ultimately I have to secure my family’s financial future.I’d likely refuse. I can’t do that to my long-term employees.I wouldn't even take the meeting. My legacy is my people.

Question 66. If your business involves family members, how aligned is the family on the future of the company and your exit?We are all in complete agreement on the plan and timeline.We don't talk about it much, but I assume they are okay with my decision.There is tension. Some want to keep it, some want to sell.It’s a source of deep conflict. I feel like I’m letting someone down whatever I do.

Question 77. If you decided you absolutely had to sell your business today, do you know exactly who your first phone call would be to?Yes, I have my specialist advisory team (financial, legal, tax, IFA) ready to go.I’d probably call my accountant, but I’m not sure they handle exits.I have no idea. I’ve read about brokers, but I don't know who to trust.The whole process seems so complex I just keep putting it off.

Question 88. What is your honest perception of the typical Business Brokers and M&A Advisors in the market?Essential partners who bring value to the deal.I know I have to work with them, but I can manage them.I’m suspicious of them. They just want their commission and don't care about my legacy.I’m terrified of being ripped off, sold a bad deal, or looking like a novice.

Question 99. How confident are you that you understand the tax implications of a sale (e.g., Business Asset Disposal Relief) and that your business is structured to maximize what you keep?100% confident. My tax planning is strategic and up to date.I think so, but it’s been a while since I checked with a specialist.I’m worried I might have missed something important that will cost me dearly.I have no idea what those terms mean, and the fear of a huge tax bill keeps me up at night.

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