Brand & Digital Marketing Strategist

Exit Planning Is a Whole-Person Journey

Posted on July 15, 2025July 15, 2025 by Lindsay Giachetti

How to recognize and respond to the emotional roadblocks owners face when planning their exits.

Most advisors know this moment well: a business owner says they want to exit on their terms, yet months (or years) pass with no meaningful action. You’ve shared financial models, talked timelines, and outlined next steps—only to be met with hesitation or silence.

It’s not that they don’t understand the plan. It’s that they’re not emotionally ready to follow it.

It’s Not Just Business—It’s Personal

Most owners have spent decades pouring their energy, identity, and purpose into their businesses. When you bring up the idea of selling or stepping away, you’re not just introducing a transaction. You’re introducing a life change.

As Steven Furtado, Co-Founder of Savoir Wealth and a former business owner himself, explains:

“The idea of selling their business is both daunting and bittersweet. After all, businesses are built with immense pride, sacrifice and an investment of time, energy and resources… There is a deep emotional attachment to the business, and the thought of letting go often feels like letting go of a part of themselves.”
From Planning Your Business Exit: A Professional And Personal Perspective, via Forbes

How to Spot Emotional Resistance

Here are a few signs you’re dealing with emotional—rather than rational—resistance:

The owner agrees with the plan but makes no moves to implement it.
They delay meetings, paperwork, or decisions with vague excuses.
They express fear, loss, or uncertainty about life after the business.
They hesitate to delegate or restructure, even when it’s clearly needed.

These aren’t signs of disinterest. They’re signals of emotional hesitation.

How to Navigate Exit Planning Emotion with Clients

Here are three ways you can support your clients through the emotional side of Exit Planning:

1. Name What’s Normal

“You’ve built something meaningful—it’s completely understandable that this isn’t easy.”

A simple statement like this validates their emotions and builds trust. It also helps reframe inaction as something human, not a flaw.

2. Ask Questions That Invite Reflection

Try:

“What does your business represent to you?”
“What would life after this business ideally look like?”
“What worries you most about stepping away?”

These kinds of questions shift the conversation from logistics to legacy—and can open up new motivation for action.

3. Reframe the Exit as a Transition

Like Steven Furtado advises, encourage owners to view the exit as a gateway rather than an end. Many owners wrongly associate Exit Planning with walking away entirely, when in reality, most plans allow for phased transitions, reduced hours, or advisory roles.

You can say:

“Exit Planning doesn’t mean walking out tomorrow. It means setting you up to have more choice—on your terms.”

That emotional shift—from loss to possibility—is often the breakthrough moment.

Don’t Wait for a Wake-Up Call

Furtado notes that many owners don’t take action until something external forces their hand—a health scare, burnout, or a life change. But those moments often reduce options and value.

As advisors, we can do better for our clients. We can help them plan when the business is still thriving, so they can exit from a place of strength—not reaction.

A More Effective Exit Planning Conversation

The most effective Exit Planning conversations are human-first. They combine business logic with emotional intelligence. They build a plan, yes—but they also build confidence and clarity.

So the next time you meet an owner who “agrees but delays,” don’t double down on numbers. Pause. Ask. Listen. Then help them move forward—not just as an owner, but as a whole person preparing for their next chapter.

Need help bringing the emotional side into your Exit Planning process?

Let’s talk. Contact us at 303‑321‑2242 or email us to learn how to support your clients more effectively.

Advisor’s Guide to Entering the Exit Planning Marketplace

Posted on July 8, 2025July 9, 2025 by Lindsay Giachetti

3 minutes

Core Insights

Business owners often delay exit planning, but advisors can lead the conversation with the right tools and messaging.
Start by engaging your professional network—collaboration builds credibility and opens doors.
Focus on educating, not selling. Use consistent content like newsletters, blogs, and testimonials to stay top-of-mind.
Position yourself as a thought leader with content across channels, including social media.
Referrals and client advocacy grow naturally when value and trust are established early.

Breaking Through: How to Overcome Barriers in the Exit Planning Market

Last week, we explored the common roadblocks advisors face when introducing business owners to the Exit Planning process. Many owners believe they can wait until they’re ready to exit or assume they don’t have the time right now to begin planning. But as experienced advisors know, the only way to exit on your terms—your timing, your buyer, your value—is to start planning today.

So, Where Do You Begin in the Exit Planning Market?

You may be looping in your head, wondering:

Who should I be talking to? How do I start a conversation? Will they even listen to me?

Reach the Right Business Owners: Leverage Your Professional Network

Start by connecting with other professionals who already serve business owners—accountants, attorneys, bankers, consultants. These individuals can be invaluable allies. When you demonstrate how Exit Planning benefits their clients and creates new opportunities for their firm, you lay the foundation for a mutually beneficial relationship.

Focus on how collaboration helps everyone win—especially the business owner.

Start the Conversation: Lead with Education, Not Sales

Education is the most powerful, cost-effective tool at your disposal. Business owners don’t want to be sold to—they want insights, solutions, and clarity. Use storytelling, client success examples, and practical tips to communicate the value of early planning.

You’re not alone in educating clients about the urgency of planning. Experts like Douglas R. Batts Sr. are making national headlines calling on Baby Boomer business owners to start Exit Planning now—before it’s too late. Sharing insights like this can reinforce your message and help overcome skepticism.

Douglas R. Batts, MBA – Award-Winning Business Broker, Veteran

Consistent, educational outreach—like a well-crafted newsletter with links to content like the article above—keeps you top of mind when owners are ready to act. It also positions you as a trusted resource rather than just another service provider.

Get Business Owners’ Attention: Build Your Exit Planning Thought Leadership

Establish your credibility across multiple channels—articles, blogs, webinars, speaking engagements, podcasts, and yes, even social media. While business owners might not follow you directly, their inner circle does. When your content resonates with someone they trust, it’s more likely to be shared—and remembered.

Be sure to:

Include a newsletter signup on your website
Add content to your email signature
Use lead forms to collect interest from site visitors

Make it easy for people to access your content—and for new Exit Planning or Owner Based Planning opportunities to find you.

What Comes Next? Turn Exit Planning Clients into Advocates

Your first few Exit Planning clients are your strongest advocates. As you deliver real value and build trusted relationships, referrals will follow. Over time, your network grows—and so does your influence.

Looking for the right tools to reach business owners faster?

Access professional marketing materials, educational content, and proven Exit Planning tools trusted by top advisors.

We’ll help you do more of what works—and less of what doesn’t.

Learn more

The Strategic Role of Insurance Advisors in Owner Based Business Planning

Posted on July 1, 2025July 9, 2025 by Lindsay Giachetti

Using Insurance to Protect and Grow Business Value

Insurance professionals may not always be seen as the first stop for business owners seeking long-term guidance—but their deep, ongoing client relationships uniquely position them to lead impactful conversations. Through business planning, insurance advisors can go beyond product placement and begin uncovering business owners’ personal, financial, and strategic goals. By using frameworks like Owner Based Planning, insurance professionals can identify planning gaps, initiate value-building strategies, and align their services with both business continuity and future growth.

With Owner Based Planning, insurance advisors can shift from product-centric service to strategic partnership—helping owners align business performance with personal and financial priorities, while laying the groundwork for future success and continuity.

Three Core Responsibilities of the Insurance Advisor

As part of the business owner’s advisory team, insurance professionals bring critical value by:

Educating the owner about planning strategies that support long-term business and personal goals.
Facilitating collaboration with the owner’s broader advisory team.
Delivering solutions that protect and promote business value and family security.

Owner Based Planning empowers insurance professionals to lead with questions about the owner’s vision for the business—rather than waiting for retirement or transition planning to emerge.

Step One: Understanding Owner Goals

Begin by helping the owner define income needs—during their lifetime, at retirement, and in the event of disability or death. These discussions are foundational in OBP, which emphasizes planning around the owner’s values and future aspirations.

The three spheres of Owner Based Planning, an empowering business planning process for insurance advisors..

Step Two: Evaluating Business Value and Risk in Insurance Advisor-Led Business Planning

Support the valuation process for insurance, estate, or gifting purposes. Identify income deficiencies and coverage gaps that could impact the owner’s family or business in unforeseen circumstances. This risk-based insight adds immediate value, even if a transition isn’t on the horizon.

Step Three: Preserving, Protecting & Promoting Value

Insurance advisors play a direct role in strengthening business value through protection strategies. This includes:

Advising on retention and incentive tools such as non-qualified deferred compensation plans.
Assessing the need for retirement-focused plans like defined benefit solutions.
Recommending and implementing key person life insurance for the business owner and top employees—safeguarding continuity in case of sudden loss.

Key person coverage is especially critical when a business’s value is tied to the contributions of specific individuals. It ensures that the business can absorb the financial impact of losing a key employee, fund temporary leadership, or support recruiting efforts—helping the company maintain momentum during a difficult transition.

Carriers like Pacific Life offer a range of planning solutions, advanced markets support, and executive benefit solutions that empower insurance professionals to deliver more value through business planning. These resources can enhance your ability to support owners with strategies like deferred compensation, key person coverage, and retirement income planning.

Step Four: Preparing for Future Liquidity Events

Even if a sale or succession is years away—or uncertain—insurance professionals can help assess whether the business is on track to meet the owner’s eventual financial goals. Owner Based Planning encourages earlier, broader conversations that focus on readiness, not timelines.

Step Five: Planning for Business Transitions with Advisor-Led Insurance Solutions

In insider transitions (e.g., to children, co-owners, or key employees), insurance professionals help:

Fund Buy-Sell Agreements between the owner and future stakeholders.
Provide key person insurance on those acquiring ownership to secure the business’s value during and after the transfer.
Assess income needs for the owner and family in the event of death prior to a completed transition.

More Owner Based Planning recommendation examples.

This level of planning ensures that if anything happens to a future owner or the current one, the business remains stable and the owner’s financial goals stay on track.

Step Six: Insurance Advisor-Led Business Continuity & Contingency Planning

Help review and update Buy-Sell Agreements, recommend Stay Bonuses for key employees, and ensure contingency plans are consistent with the owner’s broader goals. These strategies are vital for both single-owner businesses and multi-owner enterprises—and often overlooked until it’s too late.

Step Seven: Family Wealth and Estate Planning

Review the owner’s estate plan to ensure it aligns with current business structures, valuation realities, and personal goals. Insurance funding can help cover estate taxes, enable wealth transfer, and ensure financial security for future generations.

Connecting Insurance Advisor Strategy to Business Owner Goals

Through Owner Based Planning, insurance professionals become more than policy providers—they become trusted guides in long-term planning, value creation, and legacy protection. You don’t have to wait for an owner to ask about leaving the business. By leading with thoughtful questions and strategic insight, you help them build a stronger business today—and a more secure future tomorrow.

Learn how to bring Owner Based Planning into your insurance advisory approach.

Why Business Owners Delay Exit Planning

Posted on June 23, 2025June 24, 2025 by Lindsay Giachetti

The Real Reason Owners Delay Exit Planning—and How to Break Through

Many owners assume that planning for their exit begins once they’ve decided to leave. But the reality is that effective planning starts well before that decision. By engaging owners early and reinforcing the value of growth-focused strategies, advisors can ensure a smoother transition and more favorable outcomes for all involved.

“I’ll plan my exit when I’m ready to leave.”

This common mindset among business owners is one of the biggest challenges advisors face. But overcoming this misperception doesn’t require magic—it requires clear, consistent communication that educates and empowers.

At BEI, we regularly hear from advisors looking for a reliable way to engage reluctant business owners in planning their exits. While we have proven tools to help convert hesitation into action, the first step is understanding why so many owners delay planning in the first place.

Why Exit Planning Can’t Wait: The Risk of an Unprepared Business

Most business owners know their companies aren’t ready to run without them—yet many still postpone planning. Why? Because they assume they’ll have time to prepare when the moment to exit finally arrives.

But experienced advisors know better: preparing a business for a successful exit takes years, not months. The earlier owners start, the more control they have over the outcome.

“Owners know what needs to happen. They just don’t look at it closely—or think it has to happen today. I tell them, ‘This is your final exam. Will you eat steak or Top Ramen for the rest of your life? Let’s do the work.’ And they do.” – Marko Mijuskovic, Senior Partner at WestPac Wealth Partners, CExP™ and BEI Member

Helping Owners Move Past “Not Yet”

To shift this mindset, advisors must help owners see the realities of waiting too long. That starts by clearly communicating three critical truths:

There’s often a significant gap between what owners have and what they’ll need to exit on their terms.

Bridging that gap takes time and consistent effort.

Exit Planning isn’t just about leaving—it’s about growing. Enhancing business value and cash flow benefits owners no matter when they exit or what path they take.

This is the heart of Exit Planning: helping owners build stronger, more valuable businesses—whether they’re looking to exit in 3 years or 10. And that’s the value you bring as an advisor.

You’re not just offering a service. You’re guiding business owners toward better outcomes, greater security, and more freedom. But to do that, you need to replace uncertainty with education—and replace hesitation with clarity.

Consistent Communication = Better Engagement

One meeting isn’t enough. The most effective advisors don’t rely on one-off conversations to spark action—they use ongoing, branded content to deliver their message at scale.

Our top-performing Members consistently share planning insights with 500+ owners and advisors at least twice a month. This kind of sustained communication helps dismantle the belief that planning can wait—and instead reinforces the benefits of taking action now.

“If you have an important point to make, don’t try to be subtle or clever. Use a pile driver. Hit the point once. Then come back and hit it again. Then hit it a third time—a tremendous whack.” –Winston Churchill

Closing the Communication Gap

At the end of the day, owner inaction isn’t about unwillingness—it’s about unfamiliarity. Advisors who succeed are those who make Exit Planning familiar, relevant, and urgent through ongoing education and encouragement.

If you want to help business owners act, keep showing up with valuable information, insights, and motivation. Because when owners understand the stakes—and see the benefits—they’ll start planning with purpose.

Ready to turn hesitation into action?

Start equipping business owners with the tools and insights they need—while positioning yourself as the trusted guide in their Exit Planning journey.

Learn More

How to Save a Legacy Business: Lessons from Sam Wo’s Possible Closure

Posted on December 9, 2024May 23, 2025 by Lindsay Giachetti

A 116 year-old San Francisco Chinatown restaurant may close at the end of 2024... but the exit story could have been different.

The story of Sam Wo Restaurant, a 116-year-old Chinatown institution in San Francisco, is a bittersweet reflection of the complexities surrounding family-owned businesses and the necessity of proactive Exit Planning. This legendary eatery, known for its comforting Cantonese dishes and historic quirks, now faces the imminent possibility of closure as its current owner, David Ho, prepares for retirement.

For Exit Planning advisors, Sam Wo offers a compelling case study in the importance of foresight and strategic planning when it comes to navigating business transitions. While its fate is not yet sealed, the challenges the restaurant is grappling with highlight what can happen when long-term succession plans are left unresolved. At the same time, there are glimmers of hope—opportunities for legacy preservation, community revitalization, and creative adaptation that could serve as inspiration for both advisors and business owners alike.

The High Stakes of Business Transition Planning

Sam Wo’s situation underscores a fundamental truth: Every business, no matter how storied or successful, will eventually face a transition point. David Ho’s four decades of dedication to Sam Wo have created a brand synonymous with Chinatown culture. But as he reaches retirement, he finds himself in a bind—without an heir or a successor committed to carrying the torch, the restaurant risks fading into memory.

Despite interest from potential buyers, none has yet emerged with the skills, vision, and resources required to uphold the restaurant’s legacy. This hesitation stems from multiple factors: the physically demanding nature of restaurant work, the need to preserve Sam Wo’s unique cooking techniques, and the financial risk of investing in a business industry that operates on tight margins.

Exit Planning advisors can use this case to help business owners recognize the cost of delayed planning. When business transition efforts are rushed or reactive, critical opportunities to identify and groom successors, secure buy-in from stakeholders, and align the business with evolving market demands are often missed.

What Could Have Been: Missed Business Exit Opportunities at Sam Wo

Had proactive Exit planning been implemented earlier, Sam Wo’s current predicament might have been avoided. Some key exit strategies that could have mitigated this crisis include:

1. Building a Strong Succession Pipeline

David Ho’s children, Jason and Julie, were involved in the restaurant as young adults but eventually pursued careers outside the business. While this decision is valid and common, it highlights the importance of identifying potential successors early. Business advisors could have encouraged Ho to look beyond his immediate family to train employees, community members, or even external professionals who might have been passionate about carrying on the Sam Wo tradition.

2. Leveraging Partnerships and Investments

The 2015 reopening of Sam Wo after its 2012 closure was made possible by partnering with investors, including co-owner Steven Lee. This collaboration was pivotal in reviving the brand. A similar strategy could have been applied earlier to bring in younger partners or co-owners who shared Ho’s vision and could transition into leadership roles.

3. Diversifying Revenue Streams

Lee’s idea of transforming Sam Wo into a packaged food line demonstrates how legacy businesses can adapt to modern markets. If this had been explored earlier, it could have reduced dependence on the physical restaurant and provided a more scalable revenue model.

4. Documenting Legacy and Processes

The “Sam Wo way of cooking” is described as simple, yet distinctive. Comprehensive documentation of recipes, techniques, and customer service standards could have made it easier for potential successors to maintain the brand’s authenticity. Exit Planning advisors might have facilitated this by helping Ho create a formal operational handbook and training programs as part of the succession strategy.

5. Engaging the Community

Sam Wo is deeply rooted in Chinatown’s history and culture, and its potential closure would represent a loss not just for its owners but for the community at large. Proactively involving local stakeholders in discussions about the restaurant’s future could have opened doors to creative solutions, such as community ownership models or nonprofit partnerships.

Key Takeaways for Exit Planning Advisors

Sam Wo’s story is a cautionary tale for the countless small business owners who pour their lives into their ventures without a clear exit strategy. Exit Planning advisors play a critical role in guiding owners through this process, ensuring that transitions are smooth, strategic, and value-driven. Key lessons from Sam Wo include:

• Start Early: Succession planning should begin years, not months, before retirement. Encourage business owners to identify potential successors and create development plans to prepare them for leadership.

• Preserve Intangible Assets: A business’s value often extends beyond its financials. Document its unique practices, values, and culture to ensure these elements can be passed down to future generations.

• Embrace Flexibility: The modern marketplace offers myriad opportunities for reinvention. Encourage clients to explore creative strategies—such as franchising, licensing, or rebranding—that align with their goals and values.

• Engage Stakeholders: Transition planning is a collaborative effort. By involving employees, community members, and other stakeholders in the process, owners can build goodwill and discover innovative solutions.

What-If Scenarios: Reimagining Sam Wo’s Future

Even now, all hope is not lost. Exit Planning advisors can draw lessons from Sam Wo’s challenges to offer creative paths forward. Here are some “what-if” scenarios that demonstrate how legacy businesses can chart a hopeful course:

Community-Driven Revival:

What if Sam Wo became a cooperative or nonprofit venture? By transitioning ownership to a collective of local stakeholders—such as Chinatown community members, cultural organizations, or even loyal customers—the restaurant could continue to operate as a cultural landmark. Such a model would not only preserve the legacy but also reinforce the importance of Chinatown’s rich history.

Strategic Collaboration with Emerging Talent:

What if a partnership with a young, innovative chef or restauranteur was forged? Sam Wo’s reputation and historical appeal could attract culinary talent eager to make their mark while learning from Ho’s expertise. Business exit advisors could facilitate mentorship programs to ease the transition and ensure continuity.

A Modernized Brand Expansion:

What if Sam Wo leaned into its heritage by expanding its brand beyond the restaurant’s walls? A line of frozen meals, recipe books, or branded merchandise could introduce Sam Wo’s flavors to a global audience, creating new revenue streams while preserving its cultural identity.

Landmark Protection Efforts:

What if Sam Wo became a designated cultural landmark? Business advisors could assist in lobbying for historic preservation status, ensuring that the restaurant remains a cornerstone of Chinatown’s tourism and cultural offerings.

A Legacy Worth Saving

Sam Wo is more than a restaurant; it’s a living piece of San Francisco’s Chinatown history. Its looming closure serves as a poignant reminder of the fragility of legacy businesses and the importance of proactive planning. For Exit Planning advisors, this is a moment to reflect on the transformative power of strategic foresight. With the right tools and guidance, even the most daunting transitions can lead to opportunities for renewal, growth, and lasting impact.

Business advisors committed to solid exit strategies hold the key to ensuring that stories like Sam Wo’s end not in closure but in continuity. Let this tale inspire exit planners to help their clients preserve their legacies for generations to come.