How Owners Clarification Prevents Seller's Remorse
Posted on Tue, Feb 07, 2012
The call came to my cell phone after 5PM on a Monday. There was an edge of panic in the caller's voice, a business intermediary whom I'll call Tom.
Tom asked me for some help. He had a deal all put together, the selling husband and wife were going to be "all set". Tom needed the deal to close to make his numbers.
Problem: The sellers had just visited their industry trade show and realized that they we no longer going to see their old friends anymore. As they sat in their second home (where the winters are warm) they could not see a future for themselves. So they panicked and called Tom to say, "the deal is off".
Tom asked if they could put things on hold until he could get an expert to speak with them about their personal concerns. The sellers agreed.
This is a text-book example of owners who have not done much transition planning. If Tom had persuaded the sellers to partake in the Owner's Clarification Report, a 20 minute survey of the Owners' emotional readiness, he would have prevented the issue from becoming a crisis.
So, what will the owners do next? Follow this blog to learn more....
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To download a free presentation on The Owner's Clarification Report click the button below:
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Paul Cronin is partner and Director of Business Development at STPI, the Successful Transition Planning Institute of Cambridge, MA. STPI trains advisors to show owners how to "Think", "Live" and "Decide" what to do with their companies and plan for a dynamic, new life. Paul can be reached at 978-749-9546, Facebook, Linkedin, Twitter, Google+, or at Contact Us
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The Successful Transition Planning Institute of Cambridge, MA, STPI provides tools and training to advisors so they may help successful business owners, executives and professionals learn how to "Think", "Live" and "Decide" what to do with their companies and careers, in order to plan for a dynamic, new life. (see video).