As a baby boomer business owner, I wonder what it will be like to retire at the traditional age of 65, or is it now 67, according to the U.S.Social Security Administration, or, is there any “required” age to leave my business anymore?
I find in my transition planning consulting practice that “tradition” can be just that. Realistically, selling your business and moving on – to retirement, to another career, to a pause in your work life – is your choice, and yours alone. As business owners we have options, and we should take advantage of the planning processes we have available to us to make more informed decisions about the future of our business, our career, and our lives.
I have worked with business owners in their eighties, seventies,and sixties. It’s not age that makes the difference for them – its more a matter that they have decided they are ready fora change, yet they often don’t know what.
If you are a baby boomer business owner approaching that “traditional” retirement age you may wonder what your future will hold for you. Often, I find boomer business owners reluctant to sell their business – often with good reason – as they have not planned what’s next in their future or may not even want to sell – for fear of what they will do with all that free time.
Ah, fear, one of those four-letter words. It’s not necessarily a bad thing to have fears, but it is important that you can recognize them for what they are and to then develop a plan to address them with positive actions. Some common ones I hear: boredom, losing my social network, lack of physical activity…the list goes on. Most common is when these boomer owners are asked to address what they will do the Monday Morning After they sell their business. Think about it: no phone calls, no text messages, no emails, no interruptions, no arguments, no decisions to make.
What’s a former business owner to do?
Not to worry – that Monday Morning After can be approached with good planning. If you are a Boomer Business Owner and want to explore your options now, I’m offering you a complimentary assessment, the What’s Next? Self-Assessment for business owners. After you press the “Order Online Now” button below, simply click on the “buy” button then enter the coupon code 2sj6144 and click “apply”, to change the price to zero. You will then be directed to complete the self-directed assessment. I will get a report upon completion and will contact you then to discuss. Sound like a worthwhile plan? Certainly, it’s a start, and one I’m willing to help you discuss. Thanks for your anticipated discussion.