There are six reasons why GenXers won’t buy your business.
Last week I presented a webinar for the Exit Planning Institute entitled “The Perfect Storm.” It looks at six factors impacting the desire and the ability of Generation X buyers to acquire a Baby Boomer business.
The first three, demographic, psychographic and sociographic, are macro trends that make Xer’s unlikely to buy any business that requires capital or more than full-time commitment. .
The last three factors, Regulation, Disintermediation and Entitlements, describe why all businesses are harder to sell today than they were even ten years ago.
The presentation is a bit long (38 minutes), and the quality isn’t perfect.(My apologies for the “dings” when viewers check in. That wasn’t controllable on my end.) None the less, if you are an advisor to owners, or an owner who is planning to sell, you might want to watch this data-based approach to the market forces you’ll deal with.
“Read” my new book in 12 minutes!
Your Exit Map, Navigating the Boomer Bust is now available on Amazon, Barnes & Noble and wherever books are sold. It was ranked the #1 new release in its category on Amazon, and is supplemented by free tools and educational materials at www.YourExitMap.com.
Now, we have a really cool 12 minute animated video from our friends at readitfor.me that summarizes the book, and helps you understand why it is so different from “how to” exit planning tomes. Take some time to check it out here. Thanks!
John, the video is a compelling review of the events that have created our exit dilemma. I would add the impact that automation will have on our consumer driven economy, when workers are displaced and the population can no longer buy what the robots build. A more immediate challenge is that companies like Amazon and Uber have used high risk investment dollars to provide superior service at lower cost without a current imperative to make a profit. The end result will be those companies becoming monopolies, eliminating SMBs. Millenials can see the writing on this wall.
Good points, David. Both job displacement and the Internet come under the general heading of Disintermediation (the elimination of the person in the middle) and none of us can stand up to the Internet.