Once you become aware of the benefits of transition planning for your family business, you may be wondering, where do I start? You are not alone. In fact most business owners put off internal transition planning because, quite correctly, they believe it is very involved. They can become overwhelmed just thinking about it. This is why working with an advisor who specializes in transition or exit planning is critical to your success.

The benefits of engaging a seasoned transition expert are many. Here are just a few of the important ways they add value.


  • Most business owners have an emotional connection to their business. Even if you are tired and thinking about limiting your future involvement, it is your baby. Emotions can cloud logic and impede clear thinking.
  • If family members or partners are involved, this can create additional complications and considerations. In order to maintain or create peace, an owner may avoid the transition topic all together.
  • A trained transition mentor is objective. Having no involvement with the business or family can provide needed clarity for your situation. Many times this outside expert can identify options, solutions, and opportunities you as the owner cannot.


  • Both your business and personal goals and objectives must be considered for your transition to be successful.
  • In addition, your financial as well as non-financial goals need to be addressed and integrated.
  • Also, the protection of your assets, risk management, contingency planning, and integration of your estate planning must be accomplished to ensure your transition achieves your desired outcomes. A trained transition advisor takes into consideration all of these areas and more in the development of your personalized plan.


  • Trained transition mentors focus on providing comprehensive transition planning, rather the sale of a specific product or service. This is critical.
  • Although products and/or services may be required to achieve your ultimate transition, these should be identified and recommended as the result of an integrated comprehensive plan, not prior. 


  • You are busy running your business, and unfortunately sometimes the things you should do for yourself are relegated to the back burner. You believe there to be more pressing matters. Truth is more-pressing business matters may not matter at all if your transition and contingency plans are not in place.
  • We recommend a transition plan be in place 3-5 years prior to your desired transition, but we recommended a contingency plan be in place from the very beginning of your business. A trained transition planner can keep you on track to complete and execute your planning holding you accountable for the benefit of you, your family, and your business.

Accessibility to Needed Resources

  • A transition planner can provide you access to other seasoned, specialized advisors through his or her extensive professional networks. These advisors are familiar with the transition planning process and can complement your process and your existing advisors where needed.

Increasing Business Value

  • As part of creating your own transition plan, you will understand the current range of values for your business, what you need it ultimately to be worth, and the areas to improve, along with the steps to achieve increased value.

Minimizing Taxes and Fees

  • The planning process produces your unique roadmap, which will identify the best transition options available to achieve your goals and objectives.
  • The minimization of taxes and fees are an important part of this planning and must be balanced with achieving your goals and objectives. Every transition option has advantages, disadvantages, taxes, and fees to consider. 
  • Through their experience, training, and creative objective planning, transition mentors can identify tax-and fee-saving methods and structures, which are potentially unknown to other advisors.

Quarterbacking the Entire Process

  • The transition planner’s skill keeps all your advisors working together in a timely and efficient manner with the team focused on your goals and objectives. Owners especially appreciate this vital role of the transition planner.

These are just a sampling of the many benefits owners realize in utilizing the services of a seasoned transition mentor.  Possessing a very specific skill set, he or she brings unique value to your business transition plans. Other than allowing sufficient time for your planning, the most important factor for your successful transition is engaging the correct advisor.  


Ready to Become a Member?

Apply for one of our memberships today to gain access to all the resources you need to secure your deal of a lifetime!

Apply Now