Here’s How to Join the 4% Club
96% of business owners don’t have a personal financial and life plan that incorporates their business plan—does that include you?
If you’re like most business owners, you spend the majority of your time putting out fires and making sure your business is able to thrive from one day to the next.
And while that can work for many years—even many decades—if you don’t put together a plan for your future, your future will decide for you…
And you might not like the outcome.
We’ve seen it over and over: business owners who procrastinate because they believe selling their business and entering their new beginning will just work itself out.
But in today’s incredibly competitive market, only about 17% of businesses actually make it to market and sell successfully.
Business owners need a plan to ensure they don’t end up among the 83% of business owners who fail to sell their biggest asset—and find themselves with no plan and an uncertain future.
Your Future Is More than Your Business—In Fact, That’s Only a Sliver of What Business Owners Need to Focus on
Here’s another shocking statistic: about 75% of business owners regret selling their business.
The really shocking aspect of this is that the reasons they regret it vary widely:
Some feel they sold for far below the amount they needed to live with financial independence
Others feel an emptiness when they no longer have a business to work on and grow
Still others have no clue what to do with all their extra time, only realizing after the fact how much work fulfilled them
And the reasons go on and on.
Selling your business is just one small part of your future. In fact, after decades of helping business owners plan their future, we’ve realized that it’s actually only 1/6th of a comprehensive plan.
We developed the 360° Future™ Blueprint to help business owners like you plan their ENTIRE future and start their “new beginning” off on the right foot.
Your 360º Future™ Blueprint: Enter Your New Beginning on YOUR Terms and Join the 4% Club
Your 360º Future™ Blueprint is a cash flow-based, living document. This is how you join the 4% club. This document lets you easily see whether your vision for your future is aligned with your financial resources and assumptions.
It’s a comprehensive financial and life plan created by a team of experts. It includes assessments and strategies for all 6 critical aspects of your future:
Estate & Legacy Planning
Tax Optimization
Risk Management & Insurance
Your Closely Held Businesses
360º Asset Strategy™
Relevant Living™
The last piece might be the most important: Relevant Living™. This is where you plan out what your new beginning will look like to ensure you don’t end up like the 75% of business owners who wish they’d never sold.
Remember, a large portion of those who regret selling regret it because they were forced to sell and take what they could get, usually because of circumstances beyond their control.
The 5 D’s That Derail Your Sale
There are 5 major unforeseeable circumstances that can drive you to sell far before you’re ready—we call them the 5 D’s:
Death
Disability
Divorce
Disaster
Debt
All it takes is one of these to derail your business, and they don’t have to happen to you.
The death of a family member might completely rearrange your life, leaving you unable to work as you once did (or even at all).
The death of a key employee could set your business back years. If they never wrote down many of the critical things they did for you (and kept all their knowledge in their head), your business might start to collapse.
Divorce might split your business or require it to be liquidated. A partner disagreeing with the direction of your business could lead to a major split.
Major debt as a result of changing market conditions has sunk untold numbers of businesses over the centuries.
This is what we mean when we say your future might decide for you.
If any of these things happen, you’ll be far more prepared to deal with them if you have a plan in place.
Your Business Might Not Be Worth NEARLY as Much as You Think
Far more business owners than you’d think overvalue their business—sometimes by enormous amounts (think millions of dollars off).
We’ve seen owners who were certain their business was worth several million… only to find out that no one would offer more than $100K.
There are many reasons why this might happen:
Your business relies too much on you—if it can’t run without you, most buyers want nothing to do with it. You should always be asking yourself, “Who can fix this for me?” and not “How can I fix this?”
Your financials are in terrible shape and need years to fix
Your business relies on key employees who might bail as soon as you sell—and you have no plan in place to retain them
Most of your business’s processes live in someone’s head (and not on paper). Once that person goes, success is no longer repeatable
Revenue is unpredictable—a buyer has no guarantee they’ll get a return on their investment
And these are only a handful of reasons why you might struggle to sell at the price you want.
It often takes years to get all your ducks in a row so that you can get closer to the number you need to be financially independent.
This is yet another reason why you need a 360° Future™ Blueprint: Your business might never sell for the number you have in mind, so you’ll need to rely on other sources of income (like investments) to live the way you want to during your new beginning.
The Best Time to Plant a Tree Was 20 Years Ago: The Next Best Time Is NOW—Let’s Get to Work!
Has planning for your family’s future taken a back seat to running your business?
Do you get tense and nervous just thinking about your future (because you know you haven’t done the work you need to do to ensure it’s a good one)?
Life is unpredictable—the last thing you want is for circumstances to decide for you.
Your future isn’t going to get here sooner than you think—it’s here right now, and it needs a plan. Shape your future the way you’ve shaped your business.
“Your Future Is Now. Let’s Get To Work!”
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