Exit Planning Institute in the News

This week, members of the Exit Planning community sat down with their local media to discuss the need of starting the exit planning conversations early.

BNY Mellon, EPI launch owner readiness survey – NJBiz 

Middle-market business owners in New Jersey need to focus more on their exit plans, even if they are not looking to sell their businesses any time soon.

That’s the wake-up call the Exit Planning Institute and BNY Mellon Wealth Management hope to deliver as they conduct their State of Owner Readiness survey in New Jersey.

The survey aims to find out how many middle-market business owners are aware of what their business is worth and if they have a sound exit strategy. It also will check if they’re focused intangibles such as long-term customer relationships and the working culture of their businesses in addition to tangibles like cash flow, revenue, and expenditures.

“It is very typical that a middle-market business owner really doesn’t understand the true value of their business,” EPI Vice President Scott Snider said. [click to read more]

When a buyer for your business knocks on the door … Lehigh Valley Business

There is an analogy when it comes to selling a business. Though one person may have founded and led his or her business, it was the people that entrepreneur pulled together whose complementary talents and expertise ultimately made it a success.

So, when the time comes to sell that business – whether it be a long-planned decision or an unexpected knock on the door, it’s critical to assembling a professional team for optimum results.

Nearly 4.5 million businesses with an aggregate of $10 trillion in valuation will be on the sale block in the coming decade, according to the Exit Planning Institute.

Driving the listings are the mass retirements of baby boomer business owners, folks 53 to 71, with older boomers most likely to sell sooner.

But there’s a caveat: it’s thought only 20 to 30 percent of those firms end up being sold. [click to read more]

Interview with Daniel Shaughnessy, EPI Long Island President

“A new study out in Long Island this morning, the only constant in business is change. But this new study finds a majority of Long Island business owners are not ready to turn over the reigns to the next generation. We’re just off the phone with Dan Shaughnessy of BNY Mellon Wealth Management who heads up Exit Planning Institute, Long Island. ” [Click to listen]

The Big Boom – Long Island Business News

There are roughly 6 million private companies in the nation with about $30 trillion in sales, according to a study done for the Exit Planning Institute, a group founded recently on Long Island.

Sixty-three percent are owned by Baby Boomers, with an average age of 63, according to the study, done by the institute with Stony Brook University and BNY Mellon Wealth Management.

“We’re talking about around 4 million Baby Boomers owning businesses poised to transition their business,” said Daniel Shaughnessy, a financial advisor at BNY Mellon Wealth Management in Garden City and co-founder of the institute. “You transition out of the role of being the owner of the business.”

Baby Boomer businesses collectively are worth $10 trillion nationwide, he added: Most owners keep 80 percent to 90 percent of their wealth in the company. Owners often look at their company as part of overall financial planning. [click to read more]

Life After Selling Your Business: What’s Next? – BNY Mellon Wealth Management

It’s an all too common occurrence: An entrepreneur identifies an opportunity to solve an unmet need in the community, dedicates their life to establishing a profitable enterprise and eventually exits the business with the expectation of a life of leisure and luxury — only to find they regret the decision. According to the Exit Planning Institute’s Readiness Survey, 75% of business owners “profoundly regretted” selling their business 12 months after finalizing the deal.1 How do so many individuals, with the freedom to live the life or create the legacy they desire, end up regretting their decision? [click to read more]


About Exit Planning Institute:

EPI LogoThe 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.

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