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Tick Tock Boomers
 

Tick Tock Boomers

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Boomers own 50% of businesses that employ 10 or more people. Their businesses make up 45% of Canadian GNP and 60% of the workforce. Most want to exit in the next 15 years - yet only 15% have a plan. ...

Boomers own 50% of businesses that employ 10 or more people. Their businesses make up 45% of Canadian GNP and 60% of the workforce. Most want to exit in the next 15 years - yet only 15% have a plan. What to do?

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  • Robert Vallee
    Congratulations on putting forward a very strong rationale for immediate action by boomers in planning and ensuring a successful sale of their business entities. This platform for action captures the urgency for immediate action. Well done!!!
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  • The rationale that private businesses are worth more if their profits are sustainable and transferable is key here – since business value is not a measure of past success but a measure of future potential. And when two thirds of the 1.7 million Canadian businesses owned by Boomers plan to sell within the next decade, then it’s easy to see how this can positively impact our economy with job creation and transfer of wealth; creating more disposable income to spread around.
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    Tick Tock Boomers Tick Tock Boomers Presentation Transcript

    • Tick. Tock. Is Time is Running out for Canada’s Baby Boomer Business Owners? By: Michael Mangialardo
    • Baby Boomer - Business Owners
      • Boomers own about 50% of all business in
      • North America that employ 10 or more people
    • Baby Boomer - Business Owners
      • 1.7 million Canadian business owned by Boomers
        • 45% of Canada ’ s gross domestic product
        • Employ some 60% of all Canadian workers
    • Baby Boomer - Business Owners
      • More than 2/3 of Canada ’ s independent business
      • owners plan to retire or relinquish control of their
      • business within the next 10 years.
      • More than 1/3 intend to exit within 5 years
      • THE SUPPLY OF BUSINESSES FOR SALE IN CANADA WILL FAR
      • OUTSTRIP DEMAND OVER NEXT TEN YEARS.
    • Baby Boomer - Business Owners 550,000+ businesses to be sold by 2015 A transfer of assets valued at $1.2 trillion
    • Baby Boomer - Business Owners Boomers used sophisticated techniques over the past decades to start, grow and manage their business but have failed to understand the need to plan an exit. Only 15% have an exit strategy!
    • Baby Boomer - Business Owners Even at the best of times studies show that 80% of all business put on the market fail to sell or transfer successfully.
    • Baby Boomer - Business Owners Unless they seize the moment, the net result of this perfect storm of “ aging and selling ” could leave Boomers on the outside looking in when it comes time to ‘ cashing in ’ on their life ’ s work and enjoying the fruits of their labour. TICK. TOCK.
    • Baby Boomer - Business Owners
      • Why businesses fail to sell:
      • Not sustainable – consumer, technology and other trends
      • reducing demand over time
      • Not transferable - owner is driving force behind success
      • of business
        • Supplier contacts
        • Strong and deep personal relationships with key customers
        • Surrounded by long term employees who, over the years
        • developed internal policies, practices and processes
        • to accommodate idiosyncrasies of owner
    • Baby Boomer - Business Owners What can Private Business Owners do to increase chances of a successful exit? Lots!
    • Baby Boomer - Business Owners Think like an owner, not an operator – business is an asset: how to make it more valuable? Value=Profit that’s sustainable and transferable
    • Baby Boomer - Business Owners
      • Sustainable
      • Market share
      • Market potential
      • Barriers to entry
      • Differentiation
      • Brand
      • Customer diversity
    • Baby Boomer - Business Owners
      • Transferable
      • Product
      • Processes
      • Management team
      • Staff
      • Finances
    • Baby Boomer - Business Owners DON’T BLAME THE KIDS. SUSTAINABILITY AND TRANSFERABILITY ARE THE MISSING PIECES OF SUCCESSION PLANNING.
    • Baby Boomer - Business Owners
      • BOARDROOM METRICS
      • measurement tools
      • private business experience
      • www.boardroommetrics.com
      • 905-709-4031