Advisors

Our Business Succession in a Box package enables you to help your business owner clients make personally and financially successful exits from their businesses to happy and healthy lives in retirement

Do you have clients who really should start planning the best way to exit their business?

How often do you see clients procrastinate because they don’t know where to start?

Do you find clients underestimate what’s involved in exiting their businesses?

How often do you experience clients derailing the business succession process?

HOW WELL PREPARED ARE YOUR CLIENTS TO SUCCESSFULLY EXIT THEIR BUSINESS TO A HAPPY AND HEALTHY RETIREMENT?

Have them complete our quiz to find out the best way forward

Why do so many business owners struggle to exit their business successfully?

Experience tells us that it’s the mental and emotional roadblocks that prevent many business owners from staying on course to exit their business successfully

It’s common for uncertainties like the following to derail or stop the business succession process:

  1. Unresolved emotions and fears;
  2. Limited thinking about their future possibilities;
  3. Lack of well formed goals to help them transition their business;
  4. Lack of a clear, positive vision for their future life in retirement;
  5. Lack of a comprehensive action plan for how to achieve their goals; and
  6. Lack of professional Advisor support.

Our proven programs step your clients through all the processes necessary to resolve these issues

It’s all important for business owners to be mentally and emotionally ready before they can think clearly about and plan successfully for their future business and personal transitions.

When owners think about leaving their business they need to create two distinct plans – a Personal Transition Plan for what they want to do in their life after business ownership so they can remain happy and healthy; and a Business Transition Plan to help them sell and exit their business in the most personally and financially satisfying way.

We provide all the tools for you to guide your clients through the business succession maze!

NEW!  Business Succession in a Box

This new approach overcomes the problems perceived by Advisors and clients: 

  • it adopts a structured yet flexible and easy to use process which engages the Advisor and client in a manner which gives the client ownership of the outcome; 
  • it adopts a modular approach and so Advisors and clients can pick and choose the modules that suit them; 
  • it follows a logical sequence;
  • most importantly for the client, the cost of each step in the process is agreed in advance;
  • at the end of the process, the accountant and client will have worked together to develop the client’s Business Succession Plan. The Advisor and client can then work together, with other Advisors as necessary, to determine the scope involved in implementing the Business Succession Plan, and thereby develop some certainty about the cost and timing of the process; and
  • the process consists of sequential steps, to allow the client to become comfortable in the process, before committing to any significant expenditure. 

Helping you help your clients

Transition Planning Australia has developed a comprehensive package of material to make it as easy as possible for you to introduce your clients to, and get them started on, the business succession process. We offer full training so you can be confident in taking yours clients through the process to the extent you feel comfortable in doing so. 

When Advisors use our Business Succession in a Box package with their clients, they gain personal satisfaction and see their business grow.

To use our systems to benefit both you and your clients, you can train to be a:

Transition Advisor

Business Transition Planning Consultant

Transition Planning Consultant

HOW WELL PREPARED ARE YOUR CLIENTS TO SUCCESSFULLY EXIT THEIR BUSINESS TO A HAPPY AND HEALTHY RETIREMENT?

Have them complete our quiz to find out the best way forward

Business Succession Stories

Business Succession Gone Wrong

Sadly, this is a true story. 

A well-respected accountant from Geraldton Western Australia, and a long-time client are both dead after a sequence of events which seems to have stemmed from a family dispute between 3 brothers over their father’s will. 

The accountant, Philip Chamberlain, was shot dead in March 2018 by client and grain farmer Rodney Vlahov. Rodney and his brothers were in a meeting at Philip’s office to discuss a succession plan for the family farm. The farm had been established in the 1930s, but the business had struggled since the death of Rodney’s Father Tom Vlahov in 2017. 

Handling of Tom Vlahov’s will had strained family ties, and the meeting to discuss farm succession became heated. Rodney stormed out of the meeting and returned with a gun. It’s not clear whether Rodney had intended to shoot Philip or whether his intention was to shoot his brothers and Philip was killed trying to calm him down. 

Following the shooting, Rodney returned to the family farm where he took his own life. 

And so 2 families, and a tightknit community, were left devastated by a succession plan gone wrong. One wonders what might have been if Tom had dealt with the family succession plan and his will, during his lifetime.

Business Succession Done Right 

An accountant was having trouble convincing one of his 65-year-old clients that he needed to start planning his business succession. It wasn’t until the accountant referred his client to a Transition Planning Consultant (TPC) that things changed for everyone involved. 

The client undertook both Transition Planning Australia’s (TPA) LIVE with Purpose and the DECIDE Programs with the TPC. 

By doing the LIVE with Purpose Program, his Future Life became clear and an exciting prospect. He left feeling ready to transition his business. 

He was then guided through the DECIDE Program becoming completely committed to the business succession process, and, with the accountant’s assistance, was able to sell the business successfully. 

The accountant’s fees for advising his client on the business succession process were $48,000 over and above usual compliance fees. 

Because of the accountant’s foresight in referring his client to the TPA Programs, this client was able to sell and exit his business in the most personally and financially satisfying way and move onto creating a fulfilling life in retirement. A time of life he’d previously feared would be a slippery slope to boredom. 

A successful outcome all round!

 

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