Protect owners from the 5 D’s in a proactive way!
When personal planning aligns with business planning, the 5 D’s can be minimized.
- Dysfunction – Preventing this starts when an owner gains clarity around personal goals, timelines, and life after the sale. When personal clarity and confidence are strong, messaging and coordination with the rest of the team is improved.
- Debt – Accumulation of out-of-control debt is usually associated with fear of transparency, lack of trust in advisors, a need for control, and a limited mindset. As personal clarity, trust, and self-talk improve, advisors have a more open door to help manage debt and improve the value of the business.
- Divorce – Important conversations are too often delayed, bad assumptions are made, and giving up seems the easiest option. Simple guided tools can allow the communication needed to get on the same page without conflict. (Too many people lack good conflict management skills, so quitting seems easier and leads to more harm.)
- Disability – The years nearing, going through, and right after an exit are the most dangerous of someone’s life. The stress of preparing a company for exit, reaching final benchmarks, and succession planning lead to long hours at the desk, limited movement, fast food, and final rounds of drinks and dinners with colleagues. All of this increases the risk of disability including injury, heart attack, stroke, obesity, diabetes complications, and more. Having a health professional advisor who understands the exit process minimizes this risk.
- Death – As with disability, the lifestyle choices in the years around the exit increase risk of death. The loss of identity, purpose, relationships, and fulfillment after also increase risk. Proactive planning prevents this loss of self.
To date, those who plan for wellness during the years around a sale and who have a clear vision of proactive health, purpose, and strategy –
- Move the date of sale closer
- Avoid the decline in the 1-3 years after the sale
- Truly enjoy the next phases of life
This was briefly discussed in the Charlotte Chapter member event in May. I am glad to expound upon it here.
I look forward to your input!
And, I would welcome a conversation about collaboration to keep your owners in the game for decades to come.
