What other experts are saying about Finding Your New Owner:

“In my work as an Executive/Leadership Coach, I have become keenly aware of how unprepared most

business owners are regarding life after transitioning out of their business. This book gives the reader a

practical, step-by-step approach about how to manage the transition process both emotionally and

professionally. The exercises will help the business owner conceptualize the steps needed to have a

satisfying and financially secure life moving forward.”

--Linda Cohan, MSW, CSC, Executive/Leadership Coach

“In Finding Your New Owner, Jack Beauregard shares with sensitivity and unique insight the steps required

for transitioning yourself away from your business. For those who are struggling with what to do next

with their life, Jack offers a wealth of ideas and a step-by-step approach to figuring it out and making it

happen. Every boomer business owner should read this book!”

--Wayne Vanwyck, Founder and CEO, The Achievement Centre International

and author of The Business Transition Crisis: Plan Your Succession Now

and Beat the Biggest Business Selloff in History

“Finding Your New Owner is a must-read for any business owner and his or her spouse or significant other.

The book makes sense and is a call to action. I will certainly be recommending it to my clients.”

--Jerry Socol, Founder of The Socol Group, five-time CEO including a

$900 million public company

“This book helps business owners ask the tough questions and forces them to work ON their business,

not just IN it. A great read with long-term impact!”

--Paige Arnof-Fenn, Founder and CEO, Mavens & Moguls

© 2011 by Jack Beauregard

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including

photocopying, recording, or by any information storage or retrieval system, without permission in writing from the publisher, except for brief excerpts

used in reviews of this book.

“The Platinum YearsSM” is a federally registered Service Mark of the Successful Transition Planning Institute.

Published by:

STPI Press

Successful Transition Planning Institute

One Mifflin Place, Harvard Square

Cambridge, Massachusetts 02138

www.successfultransitionplanning.com

Publisher’s Cataloguing-in-Publication Data

Beauregard, Jack

Finding Your New Owner: For Your Business, For Your Life / Jack Beauregard / Cambridge MA / STPI Press, 2011.

p.;cm.

ISBN 978-0-9836311-1-8

ISBN 978-0-9836311-0-1

1. Sale of business enterprises. 2. Baby boom generation -- Retirement. 3. Retirement planning.

4. Family-owned business enterprises. 5. Self-realization. I. Title.

Printed in the United States of America.

Contents

iii Acknowledgements

PART I Who Wants To Retire? Not Me

2 Chapter 1

Why You Don’t Want to Think about Leaving Your

Company Is your company your life? Helping you discover Clarity, Opportunity, Meaning and

Purpose. New possibilities for Baby Boomer business owners. The Transition Process

can be painful, but also rewarding. Expanding your thinking about your personal and

business future

19 Chapter 2

Fifteen Ways to Leave Your Company Unsuccessfully –

and How to Avoid Them Stories about failed transitions. Defining a Successful Transition. How to leave your

company successfully.

33 Chapter 3

The Head and Heart of an Owner: A Strategic Approach

to Creating a New Future for Your Business and Yourself The emotional side of the Transition Process. The intellectual side of the Transition

Process. Creating a strategic Transition Plan that includes the Head and Heart aspects of

the Transition Process. Why you need to plan. You are not alone: Working with

Transition Advisors. Four key outcomes from your advisory team.

PART II How To Create A New Future You Can’t Wait To Live

51 Chapter 4

From Being CEO of Your Company to Becoming CEO of

Your Life Expanding your thinking about your future. A question of your identity. The identity

exercise. Expanding your thinking about whom you are and who you can become.

60 Chapter 5

It’s Not “Retirement,” It’s “The Platinum YearsSM” – a

New Stage of Active Life for Baby Boomers What comes before the “golden years”? How Boomers are re-defining retirement. New

discoveries about aging and health. Your mental and emotional well being affects your

physical health. A new paradigm for your Platinum YearsSM

67 Chapter 6

Why Your Personal Transition Plan Is the Essential First

Step for a Successful Business Transition Why personal transition plan comes first. Create your personal transition plan. Create

your business transition plan. Implement your business transition plan. Move on to

your new life! Your personal transition goals. When do you plan to leave? Estate and Tax

Planning. Determining your future financial needs. Designing a comprehensive vision of

your personal future: envisioning ten aspects of your future lifestyle. Your ten decisions

of your future life

PART III How To Create A Successful Business Transition That Will

Bring You A New Life Of Meaning And Purpose

90 Chapter 7

Thinking Like a CEO Can your company run successfully without you? Thinking about your ideal new owner.

Thinking the CEO of your new life: Process Goals and outcome goals. Achieving your

Transition Goals.

99 Chapter 8

Expanding Your Thinking about the Transition Process Your Business Transition Strategic plan. You are not alone: The business transition

advisors who can help you create a successful transition process. An integrated view of

the Transition Process: your personal transition process, your personal financial process,

your business transition process, your business continuation process. How the owners

should be involved in creating and implementing your Business Transition Strategic Plan

111 Chapter 9

Expanding Your Thinking about Your Options for New

Ownership Seven options for new ownership: Feasibility of each. Your Personal Outcome Goals.

Financial Transition goal. Outcome goals for your company. Legacy goals. How much is

your company worth? How will you transition out of your company? Deciding the best

new Owner. Desiging your Business Transition goals.

137 Chapter 10

Expanding Your Thinking about the Future of Your

Company 15 questions to help you accomplish the process goals essential to your business

transition. Record-keeping. Business Valuation and Gap. Increasing the value of your

company. Business Continuity Plan. New-Owner Readiness. Motivating Employees to

support the plan. Continuing your legacy. Negotiating the deal.

153 Chapter 11

Your Collaborative “Dream Team”: Working Together to

Help You Achieve Your Goals Who should help you create and implement your business transition strategic plan?

Your Transition Advisory Team: the four key types of advisors. Creating your

collaborative “Dream Team” of advisors. Choosing a professional coordinator of your

“Dream Team”. A Chief Transition Officer (CTrO). How Transactional Advisors and

Transition Planning Consultants work together. Finding the Transition Advisors for your

Dream Team.

172 Chapter 12

Finding Your New Owner: A Head and Heart Approach My storey: how and why my Transition Planning programs came to be. Transition

Planning Consultants and STPI’s Integrative Transition Planning program.

182 Additional Resource

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