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Life Compass Programs

Determining Your Successful Business Transition Strategy

After years of building your business, you do not want to make a costly mistake at this stage of your life. By applying the power of planning to decisions about what you want to do with your company, you can get clear on both your business and personal objectives for leaving your company within the next five to ten years.

Determining Your Successful Business Transition Strategy kick-starts the process of helping you put your finger on what you want to do with your company. It provides peace-of-mind through more effective, trusting and financially successful relationships with your transition advisors.

A proven tool for methodically approaching successful and satisfying transition decisions, the program helps you:

Avoid Owner's Indecision which:

  • Can divert your time and attention away from running the company
  • Can lead to loss of sales revenue
  • Minimizes the efforts of business intermediaries who are representing you in trying to sell your company
  • Can reduce your company's profits
  • Can lead to the risk of missing an upward capital cycle
  • Leads to loss of business value

 

Avoid Seller's Remorse which:

  • Can cause you to incur legal and financial costs if you suddenly walk away from the sale of the business due to emotional misgivings
  • Reduces the chances of selling the company in the future
  • Can increase employee turnover

 

There are four key components within the Determining Your Successful Business Transition Strategy:

 

  1. Personal Transition Planning Report which highlights your Decision Making Profile - a critical roadmap for managing and harnessing your individual approach to decision making.
  2. Qualitative Report - a detailed assessment and objective appraisal that addresses the "heart" issues in order to understand your motivation and answer the "why?" questions involved in successfully transitioning from your business.
  3. Behavioral Profile - clearly outlines your unique behavioral strengths, challenges, approaches and strategies to increase your effectiveness during the transition process.
  4. Successful Transition Planning Template - outlines an action plan including proprietary decision making steps for all stakeholders, personal and business objectives, and a contingency plan for exit options should your circumstances change. Most importantly, it ensures the survival and future growth of your business after you leave.

 

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