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Incorporating Business Owner Research into Your Practice
by Colleen Kowalski on September 29, 2022
Exit Planning Institute recently released the 2022 Colorado State of Owner Readiness Report. This report consists of over 50 detailed research questions from over 400 Colorado business owners. As professional advisors, incorporating the latest research and strategies into your practice is paramount to your success.
The 2022 Colorado State of Owner Readiness Report can be utilized in multiple ways in your practice to build your relationship with your business owner clients.
The Complete State of Owner Readiness Research
The State of Owner Readiness Report is an analysis of data collected from business owners to determine their readiness to exit their business.
This year we asked business owners about their transition teams, business exit timelines, and the importance of a transition strategy. The data in the report highlights the importance of educating business owners about exit options. After reading the report, professional advisors should apply the results to their practice and utilize this valuable information about emerging client markets.
How to Use the Report
Utilize the research from the 2022 Colorado State of Owner Readiness Report to gain a deeper understanding of business owner trends. Each section of the report includes a detailed analysis of the mind of a business owner. Incorporate these findings into your conversations with your business owner clients to see how they compare to owners from Colorado.
A Quick Look at the New Research
The Quick Look guide of the 2022 Colorado State of Owner Readiness Report provides a general overview of some of the key findings from the study. See how many owners are prepared for their life after they exit their business, if they have an advisory team, or if they understand their exit options.
How to Use the Quick Look
This Quick Look version of the State of Owner Readiness Report is the perfect educational piece to bring to initial meetings with business owners. Emphasize your role as a Certified Exit Planning Advisor (CEPA) and how you will help a business owner navigate the largest financial decision of their life.
The Quick Look acts as a great business development tool as well. Share this with prospective clients to highlight the importance of exit planning.
Do Business Owners Know Their Transition Strategy?
One of the most impactful findings from the 2022 Colorado State of Owner Readiness Report was the owners’ lack of awareness regarding their transition options. While the majority of owners agreed that having a transition strategy was important for both their future success and the success of their business, they failed to have a detailed strategy in place for their future.
View the Data
Learn more about transition strategies, owner readiness, and formal written planning in our newest infographic. This infographic is the perfect resource to provide to clients during an initial meeting as it highlights the importance of understanding their personal and business transition plans.
Incorporating Research Graphics in Your Materials
The State of Owner Readiness Report includes over 50 charts and graphics detailing Colorado business owners’ readiness to exit their businesses. This research has been utilized by the Colorado Governor’s office, dozens of trusted partners across the country, and the Exit Planning Institute to improve our understanding of business owners.
For the first time, we are sharing the charts and graphics for each question from the 2022 Colorado State of Owner Readiness survey exclusively with our CEPAs. These graphics can be utilized in your content with proper attribution to EPI to highlight owner readiness statistics. Incorporating trusted research in your conversations with business owners, marketing campaigns, and thought leadership, will help to cement your position as an owner’s most trusted advisor.
How to Use the Graphics
We recommend incorporating the images into your materials to emphasize the importance of exit planning and how much or little various owners understand about the exit planning process. We have included a one-pager that highlights how to properly utilize these charts as well as the proper attribution needed when sharing the images.
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