This is Sean Hutchinson’s personal chronicles the journey of receiving the CEPA designation in 2008, highlighting the challenges and triumphs faced by early adopters in the field of exit planning. Despite initial excitement, the concept of the "exit plan" faced resistance from business owners, prompting the development of innovative strategies like the Value Acceleration Methodology. Through perseverance and collaboration, the CEPA community has grown to 5000 members, marking a significant milestone in the evolution of this specialized profession.

RFN provides a comprehensive roadmap for business owners navigating the complexities of transitioning their businesses. Our Academy has programs highlighting the importance of understanding the spectrum of business transition options. Business owners are advised to evaluate options based on fit, feasibility, likelihood and to seek professional assistance. We believe in further exploration and personalized guidance, empowering owners to approach their business transition with confidence and strategic foresight.

Listen to Sean Hutchinson interview organizational consultant and clinical psychologist, Dennis Jaffe, PhD. “He is one of the leading architects of the field of family enterprise consulting and helps multi-generational families develop governance practices that build the capability of the next generation leadership and ensure ongoing capability of financial organizations and family offices to serve their family clients.” 

Listen to Sean Hutchinson interview private equity investor Kyle Madden of KLH Capital LP. We find out what a private equity firm looks for in a business, what could potentially be a deal breaker and tackle two myths about private equity.

Ready for Next contributor, Julie Keyes, CEPA, has published the second edition of Poised for Exit - A Woman Entrepreneur’s Guide to Business Transition. The materials and resources have been updated to help owners even more.

Learn more about Poised for Exit with this article.

Successful business transitions take intention, communication and planning. This is especially true for family businesses with added complicating factors. First to second generation transitions happen only 30% of the time, second to third only 12% and making it to the fourth and beyond is only successful for 3% for families.

How do I beat the family transition odds? If you are a business owner, the answer to this question is important to you.

Despite the leaps and bounds towards gender equality society has made in the last few decades, working with women entrepreneurs remains an untapped market for transition planners. As a professional advisor, it is critical for you to understand the different approaches women typically take to owning a business so you can offer them the most impactful advice.

Julie Keyes, in a May 2022 EPI webinar, shares her experiences as a business owner and working with other women entrepreneurs so you get a feel for:

• What to expect

• How to use your knowledge strategically

• Common obstacles and how to address them

More than 40% of businesses in America are currently owned by women. This webinar will help position you to provide immediate value to women business owners, so you don’t miss out on quality clientele and they get the advice they deserve.

Pick any team sport and there are specific skills needed to be victorious and have positive outcomes. The same is true for any large endeavor.
Transitioning from business ownership is likely one of the largest decisions and processes you will undertake. It is important to have a team around you advocating and supporting you through the experience.

The statistics for owners who successfully transition out of their businesses are alarming and can be paralyzing. There are steps you can take today to put you in the driver's seat and improve your odds no matter how near or far you plan to transition.

How do I beat the transition odds? If you are a business owner, the answer to this question is important to you.

A value gap is the difference between what your business is worth and what you will need to fund the next phase in your life. Understanding if you have one and what steps you can take to close or bridge the gap are important. How do I know if I have a value gap? If you are a business owner, the answer to this question is important to you. We are here to help.

Like many things in life, just because you decide it's time doesn't mean it can happen right away. Preparing for a large life event, like transitioning out of your business, can take time and attention.

How do I know how much time I need to transition from my business? If you are a business owner, the answer to this question is important to you.

There are several internal and external business transition options available to owners. Plus, business owners can be creative when achieving their transition outcomes with custom, hybrid options.

How do I understand the transition options available to me? If you are a business owner, the answer to this question is important to you.

Successfully transitioning a family businesses have dismal statistics. Succession planning in families has built-in complications and yet ongoing legacy depends on it.

Your leadership team has likely been with you through ups and downs. They are likely a good part of your success and trusted allies in building your business. They are also valuable assets as you build value and transition from your role as owner.

How do I and when do I talk to my leadership team about my plans to transition? If you are a business owner, the answer to this question is important to you.

“It is a wise father that knows his own child.”

William Shakespeare, Merchant of Venice

Transition readiness is about owners leaving the business on their terms and with the highest value possible.

This month we hear from Julie Keyes, instructor of Jumpstart Your Exit Planning Practice – powered by KeyeStrategies. Julie will share her experiences in building her practice and working with clients on exit and transition planning.

This session will:

- Help you focus your value acceleration and transition planning practice

- Identify challenges

- Uncover areas for collaboration

- Determine next steps for building out your practice

Your business is your income and your investment. You should understand if you are more owner or employee. This is especially critical as you begin to consider what transitioning from owning your business will look like for you.

How do I take the first steps to convert from a job to a business? If you are a business owner, the answer to this question is important to you.

Sometimes things look good but may not actually be good. Understanding what is important to you as an owner is important so when you are faced with an offer you can weigh and measure it with clarity.

How do I know when to walk away from an offer? If you are a business owner, the answer to this question is important to you.

Business owners often keep reinvesting their own capital into their business. However, sometimes it makes solid financial and business sense to use debt. How do I know when to use debt to grow?

If you are a business owner, the answer to this question is important to you.