Why Waste Valuable Time?

… and it is never too late to reinvent yourself!

Are you in a perpetual cycle of disappointments, a perpetual cycle of failures and humiliations?

Why waste valuable time?

One of the things that people always forget or misunderstand is that, whatever the situation, you can always reinvent yourself.

When things are that bad, it is always the best time to reinvent yourself. By reinventing yourself, your life right now can look totally different five years from now. All what you have to do is to paint a picture of what you want to look like, of how you want your life to be and change your inner dialog.

What I am telling you is that, whatever your situation, whatever the time or circumstances of your life, whatever your age, you can always reinvent yourself to live the life of your dreams.

Michel Ouellette JMD, ll.l., ll.m.

JMD Systemics,

A division of King Global earth and Environmental Sciences Corporation

WHY WOULD I NEED A BUSINESS TRANSITION PLAN?

Is your future and the future of your family secured?

Why do I need a formal business transition plan?

A formal business transition plan puts your goals, priorities and strategies in place for a successful transition to face the future. Without a clearly defined plan, business owners are leaving their personal and financial future to chance.

I am not sure I am ready to transition out of my business.

How do I know when the time is right?
Transitioning out of your business is all about setting and reaching goals. Have you accomplished what you set out to do with your business? Do you have dreams of doing things other than running your current business? Answering these questions will tell you if the time is right to implement a formal business transition plan.

I know my business better than anyone else; why shouldn’t I handle my transition plan and process myself?
Business and personal transition are a complex and personally time consuming and challenging processes that are very difficult to handle by yourself and get it right. Most transition processes involve emotional, fiscal and risk management issues requiring a team of professionals familiar with these areas to take care of them.

Who are the experts on a transition team?
Depending on what phase you are currently in, any of the following professionals may be involved: Accountants, Certified Financial Planners, Lawyers, Business Consultants, Business Brokers, Bankers and so on. To achieve a successful transition plan, all the work required from all the professionals involved shall be coordinated by a Corporate Strategist Expert well familiarized in all the activity fields involved.

Why do I need a transition team?
Simple: you want to maximize your assets. You need experts in every area to help you get the most cash for yourself and your business. Using a transition team will cut down on the enormous amount of time you would otherwise have to spend planning, marketing, talking, negotiating and working to find a potential buyer or partner who might otherwise end up walking away. Unless you have been through a merger, acquisition or divestiture, transition planning and execution are unlike anything you have ever done before.

Why shouldn’t I hire an investment banker or any single professional to handle my transition process?

Other than SSTM, there is no national firm or individual that handles every aspect of a business or personal transition process. And if you have cost issues, you should do a comparison.

Where can I find these experts?
Even if you have an accountant, broker or financial advisor, they may not be uniquely qualified to assist you with the transition. You need experts focused on business transitioning. SSTM will work with you and your team of trusted advisors to identify and provide you with the best choices for each expert.

What information do I need to prepare for my transition?

  • Financial documents:

    • A minimum of five years of financial documents

    • Audited financials for three years

    • Pro-forma sales and cash flows for two years out

    • Three years of taxes

    • Company insurance documents

    • Personal financial information (account statements, complete copies of federal and state tax returns, estate documents)

  • Customer lists (shows history of longevity)

  • Vendor lists and relationships

  • Operational systems and procedures for everyone and every part of your business

  • Legal corporate documents

  • Contracts with vendors, suppliers, customers and clients

  • Intellectual property rights and assets

How long does it take to complete a successful transition process?
Typically, depending on your goals, expectations, the nature and size of your business a successful transition process may be completed inside a time-frame of SIX months to FIVE years.

What if I have already completed some parts of the process?
SSTM can become involved at any point of your transition. Our experts will review the work you have already completed, provide recommendations and take the necessary actions to keep or get you on the right track. Even if you have completed your transition, our certified financial planners can help with wealth management.

How do I get started?
The four phases of proper business transition planning are:

  1. Pre-Sale Phase

  2. Positioning for Sale

  3. Transaction Phase

  4. Wealth Management

Following the above Four Phases of a Successful Business Transition Plan, SSTM uses the following process to guide you through your transition:

  • Data gathering

  • Initial Expert Team Consultation

  • Selection of your team

  • Creation and Execution of the Transition Plan

  • Successful completion of the transaction

  • Wealth management system put in place for a secure financial future

SSTM, helping companies successfully complete business transitions.

JMD

J. Michael Dennis is a former attorney, a Trial Consultant, a Trial Scientist, Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.

Tomorrow Starts Today

At one point or another, every business owner must transition. Understanding the best options available can make that transition smoother. SSTM explore with you all these options that are available and adapted to your specific needs, goals, values and interests.

JMD

The magic number: $756,000.00

The real message is that people need to get more engaged in planning what they want their future to look like.

The magic number for retirement savings in Canada is $756,000 and, while that is the average amount Canadians believe they need to save for retirement, up to 90 per cent do not have a formal plan on how to get there.

A majority of Canadians, 53 per cent, are not sure whether they are saving enough during their work years. 37 per cent are not even thinking about retirement, pretexting they just cannot save.

This situation is even worse for women: only 22 per cent have a formal retirement plan or even have a good idea of how much income they will need, versus 32 per cent of men. By age fifty-five, 43 per cent of women and 27 per cent of men lack a retirement and transition plan. The real message buried in these statistics is that people need to get more engaged in planning what they want their future to look like.

There is no longer a magic age 65 or 55 when we are all going to quit work cold turkey and do something completely different. We are living longer, and a prosperous middle-class is realizing that retirement is about the journey, not the destination.

The same is to be said about all business owners. The average organization has undergone five enterprise changes in the past three years and 73 per cent of organizations expect more change initiatives in the next few years. Unfortunately, many organizations fail to implement change effectively. In fact, only a third of change efforts are clear successes, 16 per cent show mixed results, and half of them are clear failures.

Today, people of all ages, men and women, all business owners and all business organizations need to get more engaged in planning what they want their future to look like. The problem: most people are wearing to many hats and are overwhelmed with daily responsibilities and accountabilities with the result that by age 55 or 65 less and less people can afford to retire to enjoy what could have been their preferred future.

You are looking forward to maximize your assets, your business is growing fast and you need to adapt, you are thinking about retirement, SSTM, in collaboration with JMD Systemics and Succession Transition Strategies, helps you to succeed with the challenging process of business and personal transition.

Let us help you maximize your assets and secure the best possible future:

FOR YOU, YOUR WAY.

We Bring the Experts to the Table

JMD

J. Michael Dennis is a former attorney, a Trial Consultant, a Trial Scientist, Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.

Follow JMDlive on Twitter, Facebook, JMDlive.com, The Futurist Daily News, JMDsystemics.com, SSTM.solutions, and Tumblr,

The Magic Number: $756,000.00

The real message is that people need to get more engaged in planning what they want their future to look like.

The magic number for retirement savings in Canada is $756,000 and, while that is the average amount Canadians believe they need to save for retirement, up to 90 per cent do not have a formal plan on how to get there.

A majority of Canadians, 53 per cent, are not sure whether they are saving enough during their work years. 37 per cent are not even thinking about retirement, pretexting they just cannot save.

This situation is even worse for women: only 22 per cent have a formal retirement plan or even have a good idea of how much income they will need, versus 32 per cent of men. By age fifty-five, 43 per cent of women and 27 per cent of men lack a retirement and transition plan. The real message buried in these statistics is that people need to get more engaged in planning what they want their future to look like.

There is no longer a magic age 65 or 55 when we are all going to quit work cold turkey and do something completely different. We are living longer, and a prosperous middle-class is realizing that retirement is about the journey, not the destination.

The same is to be said about all business owners. The average organization has undergone five enterprise changes in the past three years and 73 per cent of organizations expect more change initiatives in the next few years. Unfortunately, many organizations fail to implement change effectively. In fact, only a third of change efforts are clear successes, 16 per cent show mixed results, and half of them are clear failures.

Today, people of all ages, men and women, all business owners and all business organizations need to get more engaged in planning what they want their future to look like. The problem: most people are wearing to many hats and are overwhelmed with daily responsibilities and accountabilities so that by age 55 or 65 fewer people can afford to retire to enjoy what could have been their preferred future.

You are looking forward to maximize your assets, your business is growing fast and you need to adapt, you are thinking about retirement, SSTM, in collaboration with JMD Systemics and Succession Transition Strategies, helps you to succeed with the challenging process of business and personal transition.

Let us help you maximize your assets and secure the best possible future:

FOR YOU, YOUR WAY.

We Bring the Experts to the Table

JMD

J. Michael Dennis is a former attorney, a Trial Consultant, a Trial Scientist, Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.

Follow JMDlive on Twitter, Facebook, JMDlive.com, The Futurist Daily News, JMDsystemics.com, SSTM.solutions and TumblrWarrior For Common Sense

 

Book a FREE 15 minutes Skype Consultation with JMDlive