Not that long ago, retirement meant being put out to pasture, with long days punctuated by occasional games of golf and bridge. But today, with lengthening life expectancies and dwindling pensions, many Americans are looking to retirement as an opportunity to start a new business. "We've never before seen so many seniors who are this active and doing so many things,'' says Lisa Gundry, a professor of management at DePaul University's Kellstadt Graduate School, who has worked

Do you have a strategy to follow? Have you created a company that someone will want to buy? Your children won’t necessarily want to take over your business, so an exit strategy is essential to getting the outcome you want. You must prepare your firm for the transition – and you must be prepared as well. When should the planning begin? Think five years away from the date of sale – at least. You could even start ten years before. Readying yourself. Have you thought about what y