MN State of Owner Readiness Survey Results with Brent Engelbrekt!
Our show today featured some of the most telling results of the recent State of Owner Readiness Survey conducted by the Exit Planning Institute and spearheaded by Brent Engelbrekt, Senior M&A Advisor at the national award winning firm, True North M&A. As a former business owner, Brent has been through many exit situations himself, both as an owner and an advisor to clients. His expertise is as much experience based as it is knowledge based, making him the perfect candidate to lead this project.
Under Brent's leadership and EPI's direction, business owners in the state of MN were asked a series of questions about their exit planning preparedness and intentions. The results are encouraging, yet we're clear there's more work to do.
Here are a few of those statistics:
66% of owners polled said they plan to transition from their businesses in 5 years or less.
60% said they are giving 'high attention' to exit planning
50% said they have a team of advisors
65% plan to invest in another business or become a Board member or consultant
25% plan to buy another company to run
Overall, owner's are doing a better job of maximizing their life's work, yet many still haven't started the process. To download your copy of the survey results, check out this link https://exit-planning-institute.org/state-of-owner-readiness
Learn more about this important piece of research and what we can all do to utilize its findings.
Listen to the episode here
Connect with Brent Engelbrekt here and Julie Keyes here
Thank you to our show sponsors! Dayta, JAK, Sunbelt Business Advisors and Trust Point
Are you ready for your best exit? There is no time like the present to prepare.
Check out these resources offered by KeyeStrategies:
- Business Readiness Transition online course
- Free Ebook download here
- Purchase Poised for Exit book here
