In 2018, more advisors than ever before began thinking about or implementing Exit Planning in their practices. It makes sense: There are more business owners approaching their business exits than ever in the history of business, business advising, and humanity. Such a monumental paradigm shift can affect business owners and advisors in unprecedented ways, and BEI tries to do everything we can to help owners and advisors through it.
So, what did advisors want to know the most about in 2018? We’ve gathered our five most popular articles from 2018 to give you an insider look at what owners and advisors were most interested in regarding planning for the business’ future success.
Our most popular article of the year answered the question, “Why do owners sell to key employees?” Although many business owners believe they want to sell to a third party when they first begin planning for their businesses’ futures, experience shows that many of those same owners opt to transfer ownership to insiders. This article explains 6 reasons why.
Some business owners intend to die at their desks. While it might seem like these owners don’t need formal Exit Plans, nothing could be further from the truth. This article provides 6 advantages to remaining in the business indefinitely and shows how owners who intend to die at their desks can still find value in Exit Planning.
The flip side of not having an Exit Plan is the negative consequences. It’s not surprising that owners and advisors wanted to know what happens when they don’t have an Exit Plan, since more than 80% of owners don’t have one at all. This article outlines the 6 dangers of not having an Exit Plan and provides advisors with ways to help business owners avoid them.
Exit Planning Advisors must strike a balance between representing business owners’ interests and preventing those same business owners from sabotaging their own Exit Plans. This article tells the story of a BEI-trained Exit Planning Advisor who threaded that needle perfectly, and shows advisors who are considering Exit Planning what they can expect as they try to keep the process simple and focused.
When done right, ESOPs are an outstanding Exit Path. When done wrong, they can lead to disaster. This article highlights what can go wrong when ESOPs are implemented incorrectly and provides advisors with ideas and strategies for how to best implement ESOPs for their clients.
As more business owners approach the end of their business lives, they’ll need help planning for life after business. Most owners don’t have the time, patience, or expertise to plan their own exits. That’s why they turn to Exit Planning Advisors to help them plan. It’s also why advisors turn to BEI to provide the tools and networks necessary to provide critical Exit Planning services.