Chia-Li Chien, PhD, CFP®, PMP®

by Chia-Li Chien, PhD candidate, CFP®, PMP® May 9, 2018

Strategic Succession Planning Allows You to Smoothly Sail into the Sunset

Is your retirement dream to sail into the sunset on the profits from cashing out your business? Following this advice can make the difference between sailing on a yacht or a dinghy.
You may be surprised to learn that one-third of all businesses in the United States closed without the owners’ cashing out, according to the Small Business Administration, as cited in my book Work Toward Reward. One-third of U.S. businesses transfer internally, and one-third sell to third parties. However, according to the 2015 Capital Markets Report by Pepperdine University, 11 percent of those who sell to a third party never close the deal due to insufficient sustainable cash flow.

The lesson? To finish well, you need careful succession planning now.

This article will help you prepare for your business succession to transition you into retirement with practical succession planning strategies to reduce risk while you build equity value. (Read this article originally published in May 2018, Speaker Magazine from National Speakers Association.)

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Chia-Li Chien

Assistant Professor and Director of Financial Planning Program at California Lutheran University School of Management

Chia-Li Chien, Ph.D., CFP®, PMP, is a Succession Strategist of Value Growth Institute, dedicated to helping private business owners increase the equity value of their firms. Dr. Chien is also Assistant Professor and Director of the Financial Planning Program at California Lutheran University. She is the award-winning author of the books "Show Me the Money" and "Work Toward Reward." Dr. Chien can be reached at jolly@chialichien.com.

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