by guest blogger -Paul Cronin – partner, STPI
A few months ago, I wrote about a business broker who called me in a panic on a Friday evening, saying his selling client just called off the sale, for no good reason. The initial thought was that the owner was not emotionally prepared to leave, so he froze things. (to read Part One of this blog, click here)
The broker asked the owner to take a questionnaire (The OCR) prepared by STPI and speak by phone with Jack Beauregard (author, founder and CEO of STPI). The owner did so and spoke with Jack. There followed radio silence for a few weeks.
I thought that the deal may be dead, but I was puzzled, so I asked the broker if anything had happened, and if he could give us some feedback on his use of STPI’s The Owner’s Clarification System©. I was expecting a simple note, explaining that the owner needed time to do some personal transition planning, and maybe a nice blurb for our site.
We got much better than that. Here is a quote from the broker:
“I brought an “above asking price” deal to husband and wife team. In spite of this, they were doing everything possible to kill the deal. Feeling like there was something deeper, I reached out to Paul at Successful Transition and we ran the husband went thru the OCR. Interestingly, by going thru the process the husband uncovered that his wife that was not emotionally ready for him to retire. She was worried about being left all alone as he went golfing. The program opened the husband’s eyes to what was emotionally blocking his wife. Armed with the power of this knowledge they mutually came up with a plan for their future lives. FYI – I just left the sellers office a few hours ago with a signed P&S and hugs from the wife. The OCR will become a key step to my process from now on” - Douglas Pendleton/ George & Company whose client recently took the OCR.
It gets better. I met with the owner of the business brokerage, who was not sure that STPI’s system might work there. Once he heard about the story, he decided to re-think the whole matter, recognizing that without the questionnaire, he would never have uncovered the real objection: the spouse’s concern.
Our program is one example of how getting the selling business owner to gain clarity in his objectives as well as possible objections from family members, can be make-or-break in selling a business.
To learn more about the Owner’s Clarification System©, you can request download a free brochure and request a demo at this link.
About our Guest Blogger:
Paul Cronin is partner and Director of Business Development at STPI, the Successful Transition Planning Institute of Cambridge, MA. STPI provides tools and training to advisors so they may help successful business owners, executives and professionals learn how to “Think”, “Live” and “Decide” what to do with their companies and careers, in order to plan for a dynamic, new life. Paul can be reached at 978-749-9546,
Filed under: Business Succession Planning | Tagged: Business Succession Planning, Business Transition Planning, InKnowVision, Legacy Planning, Successful Transition Planning Institute | Leave a Comment »