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Nov 20, 201812:08 PMExit Stage Right

with Martha Sullivan

Will you still need me, will you still feed me, when I’m 64?

(page 2 of 2)

During the personal discussions, identify the ways in which you can and will replace the social fabric that employment and/or business ownership provides. Further, map out a plan for your next phase — financially as well as personally. Done early enough, ideally when in your 50s, you can exert greater influence over the outcomes, such as pursuing new activities, building new relationships, and establishing a springboard for easing the transition.

In a way, this process gets to the heart of how Paul closes the song:

“Send me a postcard, drop me a line
Stating point of view
Indicate precisely what you mean to say…
Will you still need me
Will you still feed me
When I’m 64?”

And with that, there is hope for a happy ending — if you have prepared.

In upcoming posts, watch for more details about the Wisconsin State of Owner Readiness Survey results. They definitely provide food for thought. View it at www.WISOwnersForum.com.

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About This Blog

Spending half her career as an advisor to privately-held and family businesses and the other half in CFO/COO roles, Martha Sullivan is a partner and the succession planning practice leader in the business transition strategies group at Honkamp, Krueger & Co., P.C. She and her team have extensive experience assisting business owners achieve their personal, business, and transition goals. “Don’t think of the 'exit' from your business like it’s a four-letter word. Make it your next adventure!”

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