Wayne Vanwyck is on a mission
Business Transition Coach
warns boomer business owners
to prepare for tsunami
of business selloffs
Vanwyck, a leading Business Transition Coach who works with business owners nationally out of the Waterloo, Ontario, area, is concerned about the tsunami of business selloffs forming up in Canada and other Western countries.
“Literally millions of boomer business owners intend to retire in the next ten years,” he says, “but only 7 percent of them have a written succession plan. There’s a big danger that a selloff at rock-bottom prices – or businesses simply closing their doors – could hit the economy just when it finally climbs out of our current economic woes.”
Vanwyck predicts that business owners who don’t plan their business transition now may have to kiss all their creativity, passion, and hard work goodbye as they face a market glutted with businesses for sale and scant few buyers.
More importantly, he encourages owners to start planning their transition now so they can increase the value of their business, increase their profitability today, and keep their options open.
Besides his consulting and coaching work on this issue, Vanwyck has just released a book on the topic, The Business Transition Crisis, published by BPS Books of Toronto and New York. Vanwyck offers practical advice for how business owners can:
- Sort out their personal and professional transition options.
- Prepare their business, their employees, and themselves for an inevitable transition.
- Take the mystery out of how to sell their business.
- Create a business plan that enables them to be more profitable now and multiplies the valuation of their business later.
- Leave a legacy that they can be proud of.
- Take a sabbatical as a test run for retirement.
“I’ve researched and written this book,” Vanwyck writes, “for all of us who are struggling with the questions of what to do next, how to let go, and how to get the most value from our years of blood, sweat, and tears.”
Vanwyck reminds business owners that the same courage, energy, and perseverance that helped them build their business will carry them to victory as they transition to the next chapter in their business – and in their life.
He lays out this challenge: “If you don’t take responsibility for leading the transition of your business, who do you think will?”
WAYNE VANWYCK, author of the bestseller Pure Selling™, is the founder of The Achievement Centre International, The Vanwyck Corporation, Callright Marketing Services, and The Achievement Centre Franchise Inc. He lives near Waterloo, Ontario.
PRAISE FOR WAYNE VANWYCK, AND THE BUSINESS TRANSITION CRISIS:
“Vanwyck’s 25 years of experience advising business owners reveals itself throughout this book. Loaded with new practical tips and strategies to guide business owners through the process of selling their business, this book is essential reading.”
—Thomas Deans, Ph.D., author of Every Family’s Business
“Wayne is an advisor you can trust to give you honest, straightforward advice. Read The Business Transition Crisis if you want to profit from your sweat equity and leverage your legacy.”
—Jim Ruta, speaker and advisor to the financial industry and author of Master Your Money Management: How to Manage the Advisors Who Work for You
“The Business Transition Crisis is a must read for any entrepreneur. The focus on planning and organizing the business is good practice for any business, even if it is not being sold.”
—Jim Estill, Founder of EMJ Data, former CEO of SYNNEX Canada, and author of The CEO Blogger