Category: Exit Planning

Your life after the sale of your business is often the most important and most neglected part of your exit planning. Multiple owner surveys report that upwards of 75% of owners report regrets and/or unhappiness a year after the transition. Many advisors include some conversation about “life after” planning but most gloss over it. Many… Continue reading Personal Vision – Your Life After the Sale

by Mark C. Hegstrom By now, you may have seen the movie House of Gucci. Lady Gaga and Al Pacino star in the true depiction of the Gucci family. The Gucci brand started with two brothers who own the family business equally. Each brother had a son, and each son was to inherit the empire. One… Continue reading The House of Gucci Succession Plan

Business owners are always told they need to prepare in advance to sell their business, but why can’t they just up and sell it quickly?  The short answer is that it’s unlikely to sell that way.  Only 20% of businesses listed for sale actually sell, according to the Exit Planning Institute.  Listing it is easy. … Continue reading Why You Can’t Sell a Business Overnight

Purpose – “Having as one’s intention or objective.” Purpose after the sale is one of the biggest challenges for an exiting owner. For most owners, the driving motivation is this thing they’ve built. The company has a life of its own, but it’s a life they bestowed. They talk about the businesses growing pains and… Continue reading Purpose After the Sale

Even when business owners are comfortable with who they are, there are still lingering nuts and bolts issues with activity. An owner typically spends 30 or 40 years focused on running the business. Unless they’ve built a substantial organization that is run by the management team, it likely remains the owner’s biggest single time commitment… Continue reading Life After the Sale – Personal Vision