The Marketplace of Baby Boomer Business Owners
There are approximately twelve (12) million Baby Boomer business owners in the United States today and every day 10,000 of these Baby Boomers will turn 65 years old. What does this mean? It means that over the next 10-15 years millions of business owners will be exiting their businesses – and the majority of them have no plan in place to do so. Further, many of these owners are your existing and valuable customers who are looking to you, as their primary advisor, to assist them with this important need.
As a professional advisor, you are likely aware that the business owners that you work with (and would like to work with) face a major issue – they DO NOT know how to turn their most valuable asset, their illiquid business, into a liquid form that can be used to fund their retirement or other goals.
Exit planning is a simple concept . . . it is the idea that a business owner, a few years before they want to sell or transfer their business to someone else, will do some planning around this critically important event. Owners should know and make plans around issues such as the value of their business, who would likely want to own it after them, when they might expect to get paid for the business, whether that is enough money for them, and what can they do over this time period to address these and many, many other issues related to achieving a successful exit. And, as a professional advisor, you are perfectly positioned to deliver these planning based solutions into your existing and prospective business owner relationships, yielding you a profitable and enjoyable stream of income for your own business or practice.
Adding exit planning to your practice also gives you greater visibility, access to, and standing with a growing network of other professional advisors who are active in the business owner exit planning space. Many of these advisors have owner relationships and want to partner with you to help service the owner’s comprehensive needs in the exit planning process.
For all of these reasons, we are now making our 2-day Workshop content available to a larger number of advisors and easier than ever before to access using today’s technology and e-learning platforms.
Pinnacle Equity Solutions – A Leader in Professional Advisor, Exit Planning Training
For the past nine (9) years, Pinnacle Equity Solutions has trained thousands of advisors on how to have the exit planning conversation with their business owner clients and prospects, empowering these advisors to bring baby boomer owners the information that they need to exit their business and protect their wealth. In addition, Pinnacle supports hundreds of advisors on a regular basis with putting exit planning into their practice.
Pinnacle’s Book and System
In October of 2008, John Leonetti released Exiting Your Business, Protecting Your Wealth – A Strategic Guide for Owners and Their Advisors. This book is now considered a leading resource for the business owner and professional advisory community on the emerging topic of exit planning. Pinnacle’s 6-step exit planning process is articulated in the EYB book and is being followed by hundreds of advisors today, walking their business owners through this process to deliver exit planning solutions to this large and growing marketplace.
Pinnacle’s Business Exit Readiness Index™ (“BERI™”) Assessment Reports
A large part of the initial stages with a business owner is getting the conversation started and measuring that owner’s readiness for an exit. Pinnacle is constantly creating new tools to assist our advisors with being more effective with business owner engagements, including initial conversations and measuring ‘readiness’ for an exit. Over the past few years Pinnacle Members have had nearly 1,000 business owners take the BERI™ survey and the results, using Pinnacle’s methodology and 6-step process, indicate that a majority of owners – 84% of those who took the survey – have a Low Mental Readiness for an exit. What this means for an advisor is that there is a great opportunity for the majority of owners who are not ready to exit today to do planning for their eventual exit.
The “Rosetta Stone” of Exit Planning
The Certified Business Exit Consultant® Course and curriculum is design to teach you the language, and provide you with the tools, to effectively communicate with the business owners who are needing to make plans for their eventual exit. At Pinnacle, we refer to our process as the Rosetta Stone of exit planning because once you’ve gone through the training AND applied that training in the marketplace, you’ll experience a higher level of conversation and understanding that will empower you to create and build more relationships with business owners and also with the other advisors in your marketplace who are already serving these owners.
Remote Delivery of the CBEC® Course
For 5½ years the CBEC® course was only offered in a ‘live course’ format, with all attendees who were interested in becoming a Certified Business Exit Consultant® traveling to Boston for the week of training and to take the exam.
In early 2014 we started to experiment with remote delivery of training and found great success with our initial (ten) 10 hours of training – our Online Workshop / Home Study Course. Now the online workshop used to be a 2-day live workshop and, over time, we found that we could deliver the content in a remote basis and continue to have it as pre-requisite material for our training.
In 2016 we continued that trend by offering an 8-class, online and live webinar format of our Certification course to 42 professional advisors. Of the 42 advisors in this BETA test of our Certification course, we had 35 travel to Denver for a review class and to sit for the exam – all 35 had passing scores.
Now, with strong evidence that distance learning can work for our Certification level, we are pleased to amend our course offering to a 7-week, webinar / online, distance-learning format, with a day and a half travel, at the end of the course, for a live review and to sit for the examination.
Having redesigned the CBEC® course delivery, and now having had success in knowing that the lessons were effectively taught and absorbed by the applicants, we are happy to offer the new, updated format of training to the marketplace of advisors.
The new format makes the CBEC® course easier to access, less onerous to attend, less expensive in terms of hotel costs and time away from your office and family, and effectively delivered over a spacing of time, whereby each week participants will have an opportunity to absorb and apply the training in the marketplace, coming back the following week to bring their experiences into the weekly lesson and follow-on conversations.
We are limiting our class size to 20 attendees to continue to assure that each participant has an active role in the remote training and is able to get all of their questions asked and answered. We have also developed a forum whereby each of the class participants experiences, from week-to-week are able to be shared to add to the learning experience.
After our eight (8) weeks of live / webinar training, we will meet in Boston for 1 ½ days to convene as a group, enjoy a dinner together with your classmates, review the materials, and sit for the CBEC® examination.
The next page of this website describes the curriculum and training that you will receive throughout the CBEC® class.