|Transition: the Blind Spot for Many Business Owners|
|News Releases - Business, Economy & Finance|
|Written by Ginny Grimsley|
|Tuesday, 10 December 2013 14:33|
Handing Off Your Baby Isn’t Easy – Or Simple, Experts Say
Blood, sweat and tears; late nights and weekends spent working; sacrificed vacations and family time – indeed, a CEO’s feelings toward his or her business often mirror those of a parent has for a child.
Unfortunately, when it comes time to take the next step in life, the gravity of letting their baby go can prove overwhelming, say Kathleen Richardson-Mauro and Jane M. Johnson, two business owners who specialize in helping CEOs plan and execute their business ownership transitions.
“Successful business owners tend to pore over every detail in order to improve the venture; but what they often overlook is the fact that, like parents to a child, they will someday have to allow that baby to move on,” says Johnson, co-author with Richardson-Mauro of a practical new guide, “Cashing Out of Your Business,” and complementary website of self-help resources, Business Transition Academy (www.
“As business owners, we’ve both experienced difficult transitions professionally and personally,” Richardson-Mauro says. “So many CEOs, rather than dealing with the reality of their business’ future without them, carry on as if nothing will change.”
Richardson-Mauro and Johnson, both Certified Merger & Acquisition Advisors and Business Exit Consultants, say there are a number of measures owners can take to ensure the transition is smooth and they have what they need to be happy on the other side of it.
About Kathleen Richardson-Mauro
Kathleen Richardson-Mauro, CFP, CBEC, CM&AA, CBI, has owned and operated five small companies and has successfully assisted more than 150 business owners in achieving their transition goals.
About Jane Johnson
Jane Johnson, CPA, CBEC, CM&AA, owned her own business, which she exited successfully in 2007. She has been providing advisory services to business owners on how to plan and execute successful ownership transitions since that time. In 2010, Jane received the Excellence in Exit Planning Achievement Award from Pinnacle Equity Solutions.
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