How Ready is Twin Cities to Exit?
Today, in Minneapolis, I am keynoting the Twin Cities Owners Forum. This event has drawn in 150 owners and advisors to learn how to use exit planning to maximize business value.
With the help of our valued partners, EPI conducted a research study, the State of Owner Readiness (SOOR) Survey, leading up to the event to better understand the pulse of the local market. The results illustrated a strongly-established middle market with a weak forward-view.
Julie Keyes, Founder of KeyeStrategies and President of the EPI Twin Cities Chapter, said it well in her report foreword,
Minnesota business owners are leaders and tone setters. Many of our local leaders have built their companies into lucrative assets. Frankly, though, many more have not. Even more ironic is the fact that many of those same highly successful owners are unaware of how nontransferable their companies really are. And, like it or not, on the horizon is a wave of companies coming up for transition in the next ten years. Statistics show that most business owners will be unable to sell and will not transition. As a result, the negative impact that wave will have on us, our families, our employees and our economy will be far-reaching.
The good news is that we have the knowledge and tools to prevent that from happening. For both owners and advisors, the time is now to take massive and immediate action. And step one is to pull your head out of the sand and get educated in exit planning.
I’d encourage you, whether you are from Twin Cities or not, to read up on what makes a “ready” owner and how that relates to overall market continuity.
To download the full report, click this link.
Let’s get educated. Its step one to truly changing outcomes. -Chris