The Business Transition Crisis

Wayne Vanwyck is on a mission. A leading Business Transition Coach, he is alarmed that literally millions of boomer business owners intend to retire in the next ten years but only 7 percent of them have a written succession plan. This means a tsunami of business selloffs is looming on the horizon. Vanwyck points out that business owners who don't plan their business transition now may have to kiss all their creativity, passion, and hard work goodbye as they face a market glutted with businesses for sale and scant few buyers. But he also says that those who do start planning their transition can increase the value of their business, increase their profitability today, and keep their options open. In The Business Transition Crisis he offers practical advice for you, including how you can: Sort out your personal and professional transition options Prepare your business, your employees, and yourself for transition Build an "A" team of advisors who will make transition easier and more profitable Create a business plan that makes sense now and multiplies the valuation later Take a sabbatical as a test run for retirement Leave a legacy that you can be proud of

Millions of business owners intend to move on from their businesses in the next several years yet only a small percentage of them have a written succession plan. Those who don’t plan their business transition ahead of time may have to kiss all their creativity, passion, and hard work goodbye as they face a market soon to be glutted with businesses for sale. The Business Transition Coach: Your guide to succession planning, exit strategies, and preparing for the big handoff is your guide to transitioning out of any business. Author Wayne Vanwyck shows you through experience and case studies how planning this transition can increase the value of your business, increase its profitability, and keep your options open. His practical advice explains how you can: • Sort out your personal and professional transition options. • Prepare your business, your employees, and yourself for transition. • Create a business plan that makes sense now and multiplies the valuation later. • Leave a legacy that you can be proud of. Let this book be your helpful companion on the road to transitioning out of your business and into the next phase of your life.

"Business owners who don’t plan their business transition now may have to kiss all their creativity, passion, and hard work goodbye as they face a market glutted with businesses for sale and scant few buyers. Those who do start planning their transition can increase the value of their business, increase their profitability today, and keep their options open. In The Business Transition Crisis offers practical advice on: •How to sort out your personal and professional transition options. • Prepare your business, your employees, and yourself for transition. • Build an “A” team of advisors who will make transition easier and more profitable. • Create a business plan that makes sense now and multiplies the valuation later. • Take a sabbatical as a test run for retirement. • Leave a legacy that you can be proud of."--

Economic Transition and International Business brings together academic experts in International Business and sheds new light on the international phenomenon of transitions in the worldwide economy. It includes both academic investigations as well as in-depth empirical studies. The purpose of the book is to investigate how international transitions reshape the environment, as they reallocate and renew activities, and create new strategies for actors and stakeholders. It provides essential insights into a number of contextual changes that organisations are facing internationally, and is structured around three complementary themes. In the first part, recent economic and financial crises are analysed and presented as revealing transitions for the business world. In the second part, the impact of these transitions is assessed at the level of various key economic players in today’s societies (states, business networks, companies, associations, etc.). In the third part, certain decision-making and managerial transitions are retained to illustrate the new deal linked to international transitions. This book is recommended reading for scholars and students in management and economics, as well as international business managers. They will find insightful information, either theoretical or practical, including various countries impacted by socio-economic transitions.

Davies explores and questions the central business challenges of a world in transition. Having shifted from a unipolar world dominated by the USA to a new untested multi-polar environment, we must continue to learn about the economic landscape that will in fluctation for the next decade.

When the COVID-19 pandemic caused a halt in global society, many business leaders found themselves unprepared for the unprecedented change that swept across industry. Whether the need to shift to remote work or the inability to safely conduct business during a global pandemic, many businesses struggled in the transition to the “new normal.” In the wake of the pandemic, these struggles have created opportunities to study how businesses navigate these times of crisis. The Research Anthology on Business Continuity and Navigating Times of Crisis discusses the strategies, cases, and research surrounding business continuity throughout crises such as pandemics. This book analyzes business operations and the state of the economy during times of crisis and the leadership involved in recovery. Covering topics such as crisis management, entrepreneurship, and business sustainability, this four-volume comprehensive major reference work is a valuable resource for managers, CEOs, business leaders, entrepreneurs, professors and students of higher education, researchers, and academicians.

We have all heard the warnings - the average age of advisors is mid-to-late fifties; half of the advisor population will reach retirement age within the next ten years; only one in ten advisors have a written succession plan; there are an insufficient number of new advisors to replace those who will die, become disabled, or retire.Yet it is only in the past ten years that we have really even begun to acknowledge these issues. Up until then, financial advisory practices either faded away with their founders or had their clients scattered among other advisors who may or may not have wanted to accept them. That was not so great for an industry that staked its value proposition on helping people plan for and manage their future well-being. Today, large, well-run, high-profile practices trade hands among like-minded advisors for millions of dollars. I am not worried about them. My concern is with the hundreds of thousands of advisors who have the majority of their personal wealth tied up in their small-to-medium sized practices. Moreover, they are counting on those businesses to fund their own retirement lifestyle. Many will be tragically disappointed because they waited too long, planned too little, and assumed too much. But it doesn't have to be that way. The process of transitioning a financial advisory practice from one advisor to another is relatively straightforward and follows the same path advisors use to counsel clients - create a vision for the future, conduct a reality check on the situation today, and draw a map to take you from where you are to where you want to go.I have been coaching financial advisors for more than 30 years, and they have taught me a lot. In addition to all the practice management insights, one of the most valuable lessons I have learned is that, given sound reasoning and a logical methodology, serious financial advisors will make a focused effort to change their habits and their businesses for the better. So that is what this book attempts to do - provide the rationale and the routine to motivate you to prepare for the eventual transition of your business to the most qualified successor. I am not trying to encourage you to retire - just to get ready for the day when it makes sense to you to exit your practice. The result will be continued service to clients who trust you, greater value to you for your life's work, and greater certainty about the industry's future.Succession planning is not an event - it is a journey. To help us along the way, I have re-introduced Henry, the central character from my book Blunder, Wonder, Thunder - Powering Your Practice to New Heights. We first worked with Henry several years ago when his practice had reached a plateau. Having broken through that ceiling and built his business to an enviable position, we will now follow Henry through various coaching conversations with me as he writes and directs the final act in the story of his life's work. Henry is not a real-life advisor; he is an amalgam of many with whom I have worked. However, all the conversations played out in this book have actually happened in coaching sessions with hundreds of advisors.The truth of the matter is that you will leave your business someday. The question is, will you be in control of your exit, or will you allow fate and circumstance to dictate what happens to the business you have spent so much of your life building?Come join Henry and me. I think you will enjoy the journey!

The essays taken on the issues that have fascinated Calvo most as an academic, a senior advisor at the International Monetary Fund and as the chief economist at the Inter-American Development Bank: monetary and exchange rate policy, financial crises, debt, taxation and reform, and transition and growth.