Preparing for Succession and Exit
Eight million businesses will change hands in the next 9 years. This demographic shift will create tremendous opportunity for owners who are ready to grow as good businesses will be available and the pricing may be very attractive.
For owners planning to exit, contrary to popular belief…
Most of you are not striving to get the highest value you can from the sale of your business…
You want to get a fair price. You don’t need to walk away with a windfall, but you don’t want to feel like a chump leaving a bunch of money on the table or paying massive taxes because you didn’t know the best way to structure the deal.
And you want to…
Make enough money to maintain your standard of living (or more!) over the next 20+ years without worrying about running out or needing to cut back, and you’d like to have a little left to pass along to your kids.
Have confidence you selected the right buyer who will ensure your people are taken care of. You are loyal to them. They helped you build your business and whether they stay with your company or not, you want them to land well.
And contrary to popular belief… most of you are not going to be happy with a life that’s focused exclusively on golf, travel and grandkids. You want…
To Exit Well — into a meaningful life. You want to have something that gets you energized and engaged… every day! And while golf and travel and family time will be fun, you know you’ve got to have something more.
If that sounds like you, we can help.
Our role is to help you stay focused on what is right for you. Your priorities. Your goals. Your outcomes. At the end of the day, this is your business and your legacy and you need to make the right decisions for you.
I am often referred to as a ‘business therapist’ because I help you work through the uncertainty, acknowledge the emotions, and don’t let them get in the way of what is best for you. I cut through the complicated and get you clarity on what’s really going on, and more importantly, what you can do about it.
We work on the tangible stuff – and…
We are also that safe place where you can talk through the tough stuff, get your thinking straight and have a sounding board to validate – or challenge – whether your decisions will have the desired impact.
Don’t assume the exit is the easy part. It isn’t. And don’t argue that you are never going to exit your business. You will. With a well-designed plan, you can exit on your terms. Without one, you will exit on someone else’s.
Nearly every successful business owner struggles with the shift in identity and the uncertainty that occurs with a change in role or ownership stake in the business. Many experience feelings of loss, dissatisfaction with the transition, and sometimes a seemingly sudden lack of confidence in their successor’s ability to run the business, despite the capability of the successor.
Leaving a business you have poured your heart and soul into can be stressful and fraught with emotions.
