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Effective Strategies to Motivate Owners
Every business owner has their own reasons for not beginning the planning process. Exit Planning can be very intimidating to many business owners. Maybe the process sounds like too much work, owners do not have the time or resources to plan right now, they could simply believe they do not need to plan, or maybe they just do not know where to begin.
In this episode of Why We Plan, John Brown, Founder of BEI, and Elizabeth Mower, President of BEI, discuss why some business owners may perceive Exit Planning in a negative light and what advisors can do to alleviate some of their common concerns. John and Elizabeth suggest some ways to lessen the stress of the Exit Planning process, including focusing on the overall plan, not the exit itself. You can also break the plan up into digestible phases and focus on the areas where the client wants to start first. Focus on goals/aspirations and assets the owner needs or wants to be ready to exit. Learn about some of the other suggestions John and Elizabeth have to motive those stubborn owners who are not quite ready to start planning.