However, times are changing. A growing need has captured our attention as illustrated by the following graph found on the Executive Advocate Facebook page.
What's happening here? Baby boomers are selling businesses to other baby boomers. Why? It appears that the disappointing results of all saving programs have left those with business management capabilities in a position they are financially unable to retire. Sadly, their aging is also making them unemployable. What alternatives do they have? Business ownership stands out as a really good one.
The danger is that if a young entrepreneur gets into a business that fails, there is plenty of time and resources left to just go start another business or get into another career. At 55 or 65 or older, that luxury isn't there. An investment of your time and financial resources must work! So how does someone go about making the right decision in buying or starting their own business?
Key Executives use an Executive Headhunter to help them locate career opportunities because they know the very best ones are not to be found in classified listings. The same thing is true with business opportunities. The very best ones are not in the business listings. An Executive Advocate locates them; and this is a sophisticated process.
Those doing this on their own all start making the same mistake, a focus on financial information. At best, this is information about the seller. The career transition process needs to start with the personal business strengths of the buyer. This determines where the search for buying a business must focus. Burn-out is so prevalent today that a search of any industry will find owners of good businesses ready to sell because they are tired. It's an art to be able to get them to believe there is a qualified buyer waiting for them; but it has an can be done by trained specialists. Now addressing financial information is really useful. It can be placed in the context of what this opportunity can mean to the buyer.
There is another alternative for the executive in career transition. A business franchise offers industry experience and support. These are generally start-ups; but a comparison of buying a franchise versus starting a business shows that historical success rates for the franchise model are much more successful.
The key is a focus on the buyer instead of the seller-focused business broker model being generally used. This fundamental paradigm change has become the focus of those involved with The Active Investor blog. Future posts will no longer be here; but on the new Executive Advocate website blog. We hope everyone who enjoyed these posts will now find those as interesting.
