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Why business owners don’t
want to think about leaving

   What advisors can do about it
Four key reasons Owners Fear leaving

•   Loss of identity
•   Fear of an unknown future
•   Leaving feels like “falling into a Black Hole”
•   Leaving feels like “death”




          Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
Business Transition Facts
• Over the next five to ten years, it is estimated that retiring Baby Boomers will
  account for 65 – 75 percent of all smaller businesses that will go up for sale

• 9.0 million owners in the US are over age 50, and 8 million will leave their business
  over the next ten years

• The equity in these businesses represents approximately $10 Trillion in personal
  wealth

• 80 percent of owners’ wealth is tied up in their companies (an illiquid asset)

• 60 percent of business owners between the ages of 55-64 have not discussed their
  exit plans with their spouses or business partners

• 78 percent of baby boomer business owners do not have plans for how they will
  exit their companies



              Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved
Traditional Ways of Life



          $

Professional Years                                                      Golden Years




       Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
A new Third Way of Living




Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved
Why business owners don’t leave (short)
Leaving a Business Successfully is like
    Building a Great New Home
1.   Start with a Strong Foundation
       •    Personal Transition Planning

2.   Add floors, walls and roof
      •    Financial Plans
      •    Exit Plans
      •    Business Continuation Plans

3.   Fill up your Home (Life of Possibilities)
       •     Right Activities
       •     Right Occupation
       •     Right Location

4.   Your Open House (Start your New Life)
      •    Healthy
      •    Balanced
      •    Purposeful
      •    Significant



                     Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
THINK
•   Many owners have created an Identity with their businesses. Many are “frozen” whenever the idea of exit planning is
    raised. They develop “Owner’s Block”. Thinking about leaving their business may be confusing, depressing or simply scary.
    It does not have to be.


                 Strategic Thinking about Your Business and Personal Future:
                    Transition Planning for Baby Boomer Business Owners

•   This program of online surveys and one-to-one coaching will helps owners become both intellectually and emotionally
    prepared to think about leaving their businesses. It describes successful and unsuccessful ways to leave one's company,
    explains how to avoid unsuccessful approaches, helps owners discover specific fears that have been preventing them from
    thinking about leaving their companies, helps them deal with the identity crisis around leaving, provides key information
    about how to create and implement successful Personal and Business Transition Strategies and guides the owner in creating
    their Personal Transition Goals




                        Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
LIVE
•   Owners do not want to fall into a void when they walk out the door for the last time. They may fear becoming
    “directionless”, or falling into “Retirement Rut” or worst of all, “Post-Transaction Stress Disorder”


                               Living a Dynamic and Purposeful New Life:
                                 Seven Strategic Steps for Creating Your
                                   Successful Personal Transition Plan

•   Using a program of on-line surveys coupled with one-to-one coaching, you will learn to explore 10 aspects of your future life,
    then brainstorm and select the most satisfying choices so you can create a customized Personal Strategic Plan for living an
    exciting and purposeful new life.




                        Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
DECIDE
•   Owners have too much on the line to make a mistake. Their future will be determined by the decisions they make in what
    to do with their business. Owners need clear, concise strategies to maximize their return, reduce risk and maintain their
    sanity in the process.


                         Deciding What to Do with Your Business and
                   Implementing Your Successful Business Transition Strategy

•   Using on-line surveys and one-to-one coaching in this program, owners become intellectually and emotionally prepared for
    the Business Transition Process. In DECIDE the owner analyzes and decides on their best option for new ownership, learns
    how to make their company ready for transition to new owners, learns how to move through the emotional obstacles that
    might arise during the business transition process, then develops their Business Transition Goals.




                        Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
What’s Next? Self Assessment
                                                  New System to guide
                                                  owners, successfully
                                                • On-line assessment
                                                        o    Owner’s Clarification report (the OCR)

                                                • Copy of acclaimed book,
                                                  Finding Your New Owner
                                                • Self-Discovery Guidebook
                                                  30 pp of checklists &
                                                  exercises
                                                • 30 Minute consultation with
                                                  a Transition Planning
                                                  Consultant (TPC)


   Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
Contact Us to Get Started
Successful Transition Planning Institute
One Mifflin Place
Harvard Square
Cambridge, MA 02138
617.576.5728
SuccessfulTransitionPlanning.com (Linkedin, Twitter, Facebook)

Jack Beauregard, author, founder and CEO:
jack@thenexttransition.com, 617.576.5728

Paul Cronin, partner, Business Development
paul@thenexttransition.com, 978-749-9546,
Twitter: @nexttransition

             Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.

Más contenido relacionado

Why business owners don’t leave (short)

  • 1. Why business owners don’t want to think about leaving What advisors can do about it
  • 2. Four key reasons Owners Fear leaving • Loss of identity • Fear of an unknown future • Leaving feels like “falling into a Black Hole” • Leaving feels like “death” Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 3. Business Transition Facts • Over the next five to ten years, it is estimated that retiring Baby Boomers will account for 65 – 75 percent of all smaller businesses that will go up for sale • 9.0 million owners in the US are over age 50, and 8 million will leave their business over the next ten years • The equity in these businesses represents approximately $10 Trillion in personal wealth • 80 percent of owners’ wealth is tied up in their companies (an illiquid asset) • 60 percent of business owners between the ages of 55-64 have not discussed their exit plans with their spouses or business partners • 78 percent of baby boomer business owners do not have plans for how they will exit their companies Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved
  • 4. Traditional Ways of Life $ Professional Years Golden Years Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 5. A new Third Way of Living Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved
  • 7. Leaving a Business Successfully is like Building a Great New Home 1. Start with a Strong Foundation • Personal Transition Planning 2. Add floors, walls and roof • Financial Plans • Exit Plans • Business Continuation Plans 3. Fill up your Home (Life of Possibilities) • Right Activities • Right Occupation • Right Location 4. Your Open House (Start your New Life) • Healthy • Balanced • Purposeful • Significant Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 8. THINK • Many owners have created an Identity with their businesses. Many are “frozen” whenever the idea of exit planning is raised. They develop “Owner’s Block”. Thinking about leaving their business may be confusing, depressing or simply scary. It does not have to be. Strategic Thinking about Your Business and Personal Future: Transition Planning for Baby Boomer Business Owners • This program of online surveys and one-to-one coaching will helps owners become both intellectually and emotionally prepared to think about leaving their businesses. It describes successful and unsuccessful ways to leave one's company, explains how to avoid unsuccessful approaches, helps owners discover specific fears that have been preventing them from thinking about leaving their companies, helps them deal with the identity crisis around leaving, provides key information about how to create and implement successful Personal and Business Transition Strategies and guides the owner in creating their Personal Transition Goals Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 9. LIVE • Owners do not want to fall into a void when they walk out the door for the last time. They may fear becoming “directionless”, or falling into “Retirement Rut” or worst of all, “Post-Transaction Stress Disorder” Living a Dynamic and Purposeful New Life: Seven Strategic Steps for Creating Your Successful Personal Transition Plan • Using a program of on-line surveys coupled with one-to-one coaching, you will learn to explore 10 aspects of your future life, then brainstorm and select the most satisfying choices so you can create a customized Personal Strategic Plan for living an exciting and purposeful new life. Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 10. DECIDE • Owners have too much on the line to make a mistake. Their future will be determined by the decisions they make in what to do with their business. Owners need clear, concise strategies to maximize their return, reduce risk and maintain their sanity in the process. Deciding What to Do with Your Business and Implementing Your Successful Business Transition Strategy • Using on-line surveys and one-to-one coaching in this program, owners become intellectually and emotionally prepared for the Business Transition Process. In DECIDE the owner analyzes and decides on their best option for new ownership, learns how to make their company ready for transition to new owners, learns how to move through the emotional obstacles that might arise during the business transition process, then develops their Business Transition Goals. Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 11. What’s Next? Self Assessment New System to guide owners, successfully • On-line assessment o Owner’s Clarification report (the OCR) • Copy of acclaimed book, Finding Your New Owner • Self-Discovery Guidebook 30 pp of checklists & exercises • 30 Minute consultation with a Transition Planning Consultant (TPC) Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.
  • 12. Contact Us to Get Started Successful Transition Planning Institute One Mifflin Place Harvard Square Cambridge, MA 02138 617.576.5728 SuccessfulTransitionPlanning.com (Linkedin, Twitter, Facebook) Jack Beauregard, author, founder and CEO: jack@thenexttransition.com, 617.576.5728 Paul Cronin, partner, Business Development paul@thenexttransition.com, 978-749-9546, Twitter: @nexttransition Copyright © 2008-2012 by Successful Transition Planning Institute. All Rights Reserved.

Notas del editor

  1. Sources:Exit Planning ExchangeThe $10 Trillion Opportunity, by Peter ChristmanExiting Your Business, Protecting Your Wealth by John Leonetti