According to Richard E. Jackim in The $10 Trillion Opportunity, “fewer than 30 percent of private businesses have an actionable succession plan. By default, most business owners simply do nothing.” Instead, they make several exit planning excuses.
There are many reasons why a business owner of a private company does not have an exit or transition plan. In his book he lists seven exit planning excuses:
- I am planning on working until late in my life.
- I have family members that will be taking over the business when I leave.
- My business is a service business and I can’t get much for it.
- I can’t imagine what life would be like after I leave the business.
- I don’t have time to develop an exit or transition strategy.
- I don’t know how to start the process or whom to call
- I know I need a plan, but I can do it later.
Are you considering transitioning from your current ownership in your business in the next 4 years?
Do some of the seven reasons apply to you?
If you answered YES to both of the previous questions, then The Exit Architect® Academy may be the right answer for you.
The Exit Architect® Academy is a comprehensive platform of information that helps business owners prepare for the sale or ownership transition of their business. With over 120 courses, over 60 videos, active fillable worksheets, podcasts, articles and dozens of questionnaires and surveys, the Academy is designed to help business owners identify, document and execute their business exit strategy. Currently there are over 300 educational components and more will added on a monthly basis.
Each member who joins the Academy receives support from an experienced Exit Planning professional who builds a customized curriculum for each member and helps guide the business owner through their own unique business transition journey.
TO LEARN MORE CHECK OUT OUR WEBSITE AT www.exitarchitectacademy.com AND OR CALL US AT 516-266-2051.