Recently, the Exit Planning Institute (EPI) shared LinkedIn poll results to their network of advisors and business owners. EPI was interested to see if advisors knew the key differences between generations. Here are the results.
A Baby Boomer business owner, in part, is known for…
- Their work life balance – 0%
- Their ability to handle a crisis – 30%
- Being ambitious – 40%
- Being creators of culture – 30%
The Baby Boomer generation is known for their 60-hour work week. Work/life balance is typically not their thing. Boomers are most certainly an ambitious generation. They are the most entrepreneurial and career-focused generation with one of their core values being success. Their ability to handle a crisis is one of the most impressive things about this generation. This ability has likely guided them through 2020’s pandemic environment. These folks have navigated Y2K, September 11th, the war on terrorism and the Great Recession.
Baby Boomers have navigated many crisis/roadblocks over the course of starting, growing, operating and now exiting their companies. Their ability to navigate the exit from their company is certainly something they should be able to handle. But, it is complicated and unlike anything else they’ve dealt with in the past. Guidance and support from well-educated experts that know how to help business owners align their personal and financial goals and successfully transition their company.
FPA Owner Transitions 