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Why Business Owners Fail To Plan


Franklin Taft was understandably a bit neurotic. He was increasingly anxious to begin planning for his eventual departure from his business but his concerns prevented him from proceeding. "I'm too busy working in my business to think about how to leave it. Besides, I don't know what to do-and neither do my advisors."

Sound familiar? In our experience, the primary reasons owners hesitate to begin the planning process are:

  1. You may be so busy fighting alligators that you don't have time to drain the swamp. Daily demands mean all of your time and energy are spent working in the business. You have little left to work on the business of leaving your business.



    A solution: spend a few hours learning what you need to know by reading The Completely Revised How to Run Your Business So You Can Leave It In Style and the provider of this newsletter can offer you additional material discussing Exit Planning.
  2. Owners may be unaware that there is a defined Exit Planning process that provides a template showing them the steps they can take in order to help them leave their businesses "In Style."
  3. Some lawyers, CPAs, insurance professionals and investment advisors-your professional advisors — may not know how to effectively work together to help you leave your business in style. If one of the professionals on your Advisory Team has provided you with a subscription to this newsletter, chances are good that he or she is informed and may specialize in helping owner/clients.



    A solution: The Completely Revised How to Run Your Business So You Can Leave It In Style book and the Companion Workbook provide the basics of the Exit Planning process. You need to know only WHAT needs to be done-a far easier task then learning HOW to accomplish what needs to be done. Leave the HOW to your advisors.
Finally, (and this wasn't a problem for Franklin) many owners have a fear of the unknown-what will they do after they exit their businesses.



At the risk of sounding like the dentist you feared as a child, "Trust me, it won't hurt." As a successful, smart business owner, you can both discover and create a new and fulfilling life apart from your business.

ORION CAPITAL GROUP, INC.
1134 Crane St., Suite 216 * Menlo Park, CA 94025
Website: www.orioncg.com * Email: info@orioncg.com
Phone: (650)752-4873

©Orion Capital Group. All Rights Reserved
DISCLAIMER: The information contained in this article is general in nature and is not legal advice. For information regarding your particular situation, contact an attorney or tax advisor. This newsletter is believed to provide accurate and authoritative information related to the subject matter. The accuracy of the information is not guaranteed and is provided with the understanding that none of the providers of this newsletter is rendering legal, accounting or tax advice. In specific cases, clients should consult their legal, accounting or tax advisors.

The example provided is hypothetical and for illustrative purposes only. It includes ficticious names and does not represent any particular person or entity.

Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS under circular 230, we inform you that any U.S. Federal tax advice contained in this communication, unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or recommending to another party any matters addressed herein.