How to Retire SuccessfullyLeadership Strategies for Ownership Transition or Succession

Why Transitions Fail

Lack of Fundamentals in the Business

Lack of Planning

Business Owner Can’t Let Go

No One Wants to Take Over

Failure to Plan is the Number One Cause of Transition Failure!

Choose Your Exit Option

Exit Options

The Modified Nike Maneuver: Just Take It

Liquidation

“Friends and Family” Sale/Transfer

Management Leadership Succession (No Change in Ownership)

The Timeline for Exit

What does Exit Look Like?

I’m done!

I here to help until . . .

Let me know if you need me.

Send my checks to . . .

Letting Go

Money Issues

Trust Issues

Identity Issues

Plan Your Exit

Alignment First

Your Personal Plan

Your Family Plan (if necessary)

Strategic Business Planning

Situation Analysis

Goals and Objectives

Long Term (Alignment)

Short Term (12 Months)

Action Plans

Creating/Building Equity

Book Value or “Actual” Value?

A business is not worth what you say it is, but what a buyer is willing to pay.

Set Equity Targets

Establish Valuation Models/Frequency

Strategic Equity Building

Executive Maturity Curve

Systems are Central

The Value of Team

Being the CEO

Preparing The Business

Systems First

Why Systems?

Letting Go By Degrees

Three “Letting Go” Questions

What Are You Doing?

Why Are You Doing It?

Who Should You Be Preparing To Do This Work?

The Core Disciplines of Business®

Preparing Leadership

Defining Success

Culture

Behaviors

Roles, Responsibilities, Achievements

Coach, don’t Tell

Measure for Success

Summary

Choose An Exit Option

Define Your Personal Exit Goals

Align the Strategic Plan

Plan to Build Equity

Prepare for Succession