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Traits Advisors Need to Help Business Owners Plan for Future Success

Submitted by John Brown on Fri, 12/06/2019 - 12:00pm
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Each business owner has unique goals and situations that affect those goals. This is especially true when it comes to business transition planning (or Exit Planning, as we call it). Planning for a successful future takes time, commitment, and a special kind of focus. Most often, business owners can’t do it alone. They usually end up relying on top-notch advisors to guide them through the maze of planning for future success. But which traits make advisors top notch in terms of business transition planning? This article will examine several traits advisors need (and owners expect) to help business owners plan for future success.

Be focused, proactive, and impartial

For many owners, business transition planning is fraught with complications. It can seem like there are endless things to do and limitless paths to take. Combined with how emotional the business transition planning process can be, owners can open themselves up egregious errors in their planning. To combat these issues, they need advisors who are focused, proactive, and who work solely in the owner’s interest, even when they aren’t experts in the things owners are interested in.

Consider an example. An owner named Kris wanted to start planning for her business transition. She was considering her options and decided to meet with an ESOP expert. Prior to her meeting, she asked for her CPA’s opinion on ESOPs. The CPA told her, “I don’t have much experience with ESOPs, but two of my other clients had a terrible time with them.” Kris took this advice to heart and ended up canceling the meeting with the ESOP expert.

Rather than dismissing Kris’s desires out of hand, this CPA should have probed into Kris’s goals and ambitions proactively. Focusing on what the owner wants to do is a crucial part of planning for future success. One of the best ways to become a focused, proactive, impartial advisor is to have a broader knowledge of the nuances of business transition planning. BEI offers both education courses and tools to help advisors expand their knowledge. Another way is to help owners find the best experts to answer their questions and encourage them to work with those experts.

Be curious

Curious advisors often have great success when working with business owners because they ask a lot of questions. Asking questions is at the heart of proper business transition planning. When advisors are legitimately interested in an owner’s goals and dreams, it makes finding the solutions to their planning problems much easier. BEI provides countless tools and strategies to help advisors frame their curiosity in ways that address problems that keep business owners awake at night.

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Be diligent

Planning for a successful future can be time consuming and complicated. Advisors who are diligent in both their work and their communications take much of the time consumption and complexity off of the business owner’s plate. That’s one of the greatest value-added services that advisors can provide to business owners: taking the reins of the planning process and letting owners do what they do best.

Good business transition planning often requires input from a team of advisors. For some business owners, the idea of having to wrangle a bunch of outside advisors to move the planning process forward creates more headaches than they think it’s worth. But when they have the help of a diligent advisor who leads the planning charge, the prospect of planning becomes much more appealing. BEI has one of the most effective tools to help advisors become more diligent in its EPIC software. This allows advisors to keep everyone on target and accountable for the important planning work business owners require for a successful business transition.


  • Advisors who are focused, curious, and diligent are highly sought by business owners.
  • Business transition planning is an inevitable part of successful future for business owners. Advisors who can guide owners through this planning with a proven process have deeper and longer relationships with their clients than those who can’t.
  • BEI helps advisors become more focused, curious, and diligent while delivering value-added services to their most successful clients.


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