The Wall Street Journal recently published an article titled "The Economy Stole My Retirement: Nest Eggs Are in Peril for Entrepreneurs in THeir 60s and 70s Who Can't Sell Their Companies."
The article title basically says it all. There are many, many entrepreneurs who have seen the value of their companies fall in the past couple of years, thanks to declining revenues and profits in a tough economy. Others have never set up their business to run without them, and so nobody wants to buy it. Still others have unrealistic expectations of how to value their businesses, and are shocked at the offers they ultimately get from prospective buyers.
As a result, according to research cited in the article, many entrepreneurs are delaying retirement. They have to, because the bulk of their net worth comes from their equity in the business.
Behind this wave of entrepreneurs are many more baby boomers in their 50s who are on the cusp of exiting.
You can help. Business owners need help setting up their businesses for sale, with good leadership teams, well-documented and efficient processes, a solid business model, a strategy with an edge, and tactics to keep on growing the business.
This is one more reason why it is a great time to get into business coaching and advisory services.
Sign up with us today. We will be raising prices soon, because members who come from other programs tell us that we have deeper content, more tools, and better marketing support than other programs — but without recurring renewal fees, royalties, or huge investment cost.