Within this site you will find the tools to create your own Strategic Prosperity Plan. Our goal is to help you take care of your business, yourself, and your family so you can create a marvelous life. What started me on this journey to help business owners succeed is when I first found out the dismal statistics on the ability of business owners to successfully transition out of their business when they become ready to reap the benefits of a lifetime of hard work. There is a perfect storm on the horizon. You need to seek shelter from this storm. To do this, you need to prepare, you need a plan and you need to make sure you follow it. If you do, your legacy will be that of an elite business owner, if your don't then you will suffer the consequences of not planning while you still have time in your favor.
One of my favorite quotes is that chance favors the prepared mind. The first thing that you need to come to grips with is what many experts are calling the perfect storm.
A perfect storm is on the horizon. A major transition is about to occur as the Baby Boomer generation approaches retirement. Sixty-three percent of all small businesses in the United States are owned by Baby Boomer Business Owners. Most of these business owners have plans to transition to their next chapter in life in the next ten to fifteen years. Unfortunately, the reality is that many will not achieve a successful transition to the next phase of their lives. Instead, they will find that the business that they spent their life building has no value to sophisticated investors who might have an interest in buying the business.
There is going to be a rush to the door as baby boomers decide it is time to get rid of their businesses and focus on the next stage of their lives. If your plan is to sell, then you should expect a buyer's market. Currently only about 20% of businesses with revenue less than $5 million dollars even sell. With a glut of businesses on the market, it is reasonable to expect that this number will be even worse.
Investors are interested in cash flow and a reasonable expectation that the cash flow from your business will grow over time. Also, they don't necessarily want to be involved in the day to day operation of the business like you are. So, you need to get your business set up so that it will run without you. If you don't if will be much less attractive to a potential buyer.
We can take a deeper dive into this later. The bottom line is that if you don't want to get caught up in this upcoming debacle, then you need to start taking the action necessary to avoid the storm. You need a plan. Helping you create a plan is what we are about at BizValueCreation.com
If you want to learn how to prepare for the storm sign up for my email course on how to become a Value Creation Owner:
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