There are many critical junctions for an owner during their business evolution. This is particularly critical for owners of the baby boomer generation. Boomers still own over 60% of small businesses and thousands of boomer owners will be transitioning their ownership every year for the next 20 years. Many may not be adequately prepared.
The youngest boomer turns 57 this year while the oldest turns 75. Common traits among boomer owners are competitiveness and identifying deeply with their business. However, another common trait is a reluctance to discuss their exit plans. This leads to ineffective planning or no planning at all for an inevitable exit from the business.
That’s where I come in. As a boomer businessowner myself, I’ve dedicated my entire career as a wealth advisor to helping other boomer owners effectively plan so they can pursue their life goals. I founded FPA Owner Transitions to assist owners in developing and implementing an exit plan.
What is an Exit Plan? An exit plan is a strategy designed to help you maximize the value of your business (build wealth) so that you can eventually transition ownership (harvest the wealth) and then preserve that wealth for you and your family.
Source: The Exit Map® Advisor’s Guide, 2020.
FPA Owner Transitions 