Exploring the Psychology Behind Exit Planning
Starting a business takes guts. Deciding to transition out of a business is just as courageous. Part of the exit planning process requires the advisors understand the motivations and psychology behind the business owner’s desires to transition out of their business. Exploring these motivations and getting inside the heads of the business owners is a much an art as it is a science. A successful business transition requires attention and understanding, not only to the financial side of the exit, but the way owners think.
Work is work but for business owners, work is their life. Broaching the topic of leaving can introduce fears and insecurities that oftentimes get pushed aside until it’s too late. Any discussion about exit planning has to be rooted in psychology because, at the end of the day, it’s an emotional subject and we’re all human.
Greg Voisen, an author and founder of eLuminate Consulting Inc., is an expert on how to use psychology to solve problems, creatively, and discover common fears that have kept businesses owners from exiting their business. Greg’s primary focus is advising small to medium size business owners on financial management, succession and exit planning, human capital development, process improvement, and sales and marketing.
Learn the techniques and steps required to get the owners listening to you and responding so you can keep the exit strategy moving toward a favorable outcome for everyone.
- Learn how to listen with compassion and respond with the proper question to keep the dialogue open.
- Tap into intuition and allow it to guide you toward a successful outcome when dealing with the emotions of business owners.
- Learn how to write emails that will elicit a response, thought, and action by your prospective business owners.
- Learn more about the fees you can charge to do the psychological part of exit planning.
- Understand the elements of sensitivity in having open dialogues with your prospects about the psychology behind the business exit.
The broadcast will be held on Wednesday, March 7 at 1 PM ET. Register now.
About Exit Planning Institute:
The Exit Planning Institute (EPI) is an education company that provides exit planning education to advisors and middle market business owners. We view exit planning as a strategy, not an event.
EPI leads the professional services profession with the best industry content, ongoing support, and owner education platform, all of which align with our mission: Change the outcome.
Only 2 out of every 10 businesses that come to market actually sell. We want to increase the number of saleable businesses.
Only 30% of family businesses successfully transition to the second generation, only 12% transfer to the third, and the success rates diminish from there. We want to improve those intergenerational transitions.
Of those that succeed in the sale of their business, 75% experience “profound regret” within one year of exiting their business. We want to understand why and create strategies that achieve profound success, wealth, and satisfaction.
EPI is an education company, powered by an elite community of top advisors and owners, all focused toward creating a valuable, transferable future for the business marketplace.