S11 E2: The Missing Piece (Purpose in 72% of Biz Owner Life)

1. The Colorado State Office of Economic Development and the Exit Planning institute surveyed over 400 business owners in the State of Colorado, on the State of Owner Readiness for Exit. What they found was shocking: 68% had put minimal time and attention into their exit. Even worse, it was discovered that 72% of business owners are waking up every day with NO purpose in their lives! 
2. Without a new purpose, you’ll just be a statistic upon exit. We’ve all heard the stories of “He worked his whole life and then after retiring, was dead six months later”.  
3. Most business owners are seeking a combination of retirement, legacy, family business, and freedom from their business. At the same time, studies show that out of 10 business owners who seek to exit, only 2 of them will. Further, out of those 2, nearly 80% of them will be unhappy within the 24 months after exiting their businesses. Put differently, in a room of 40 business owners who want to exit, 2 years later a single person will be left standing with a smile on his or her face. 

These statistics are dire. And they contribute to well founded fears such as:

• Fear that they won’t be able to retire
• Fear that they won’t be able to pass the business down to their family
• Fear that they are going to be chained to their business forever

Many clients who come to us have already tried:

• Bringing family up through the business
• Training their successor (who may have left)
• Closing themselves off to help (because they know their business the best - which is true!)
• Read books and courses, trying to fix problem

And yet, nothing changes. It leaves them with these problems:

• Millions of dollars left on the table 
• Years of living - life - gone forever because they’re trapped in the business
• Families destroyed from workaholism or worse
• Legacy never achieved

1. The cost of inaction is huge. It’s not always obvious, because temporary success is often covering a multitude of sins. It might feel like you don’t have time today, however, one day that will be true for real. You will run out of time.
2. Bottom line: If you want to sell your business in the next 5 years, come to us and we will get it ready so you get one heck of a payday.