So here I am on a crowded plane and this brash young man sitting next to me asked me if my new book, Changing Places, “was relevant in today’s economy?” And as I am prone to do when asked a stupid question, I answered back by slowly repeating the question. “IS…MY BOOK…RELEVANT…IN TODAY’S ECONOMY?” My sarcasm did not go unnoticed. But you know, he deserved a better answer. And I had a captive audience.
And Now For Some Exciting Bureau of Labor Statistics!
I explained it like this: We’ve all been hearing 24/7 how small business is the engine for job creation and economic growth. Right? All the data supports that proposition. According to the Labor Stats, there are 30 million small businesses in the US, accounting for $10 trillion of personal wealth, largely belonging to the Middle Class. Small businesses employ 53% of all US workers, and are responsible for 70% of all jobs created in the last decade. 60% of small business owners were born before 1964. That means one Baby Boomer small business owner is turning 65 every 57 seconds. And continue for the next 17 years. See where I’m going?
OK, time for the clincher. Only 13% (WHAT?) of small businesses have a written plan for leadership continuity; and without it the chances are great that the business itself will disappear along with the current owner. Also down the tubes: his legacy, his business assets and his employees’ jobs. Gone. You do the math.
After listening intently, the fellow next to me said, “Hey, Dude, that was totally awesome. Literally. Seriously!” So I thanked him, gave him a copy of the book and bought him a drink. So…is the book relevant? Seems obvious. The lack of proper exit planning for small businesses has hurt our nation’s economic growth.
So check it out. “Changing Places: Making a Success of Succession Planning for Entrepreneurs and Family Business Owners” (published by AuthorHouse).
Please give me your feedback at email@example.com
Dave Franzetta and Moss Jackson pen new guide and action plan, Changing Places, for business owners facing the conflict of change.
LAGUNA NIGUEL, Calif. – (DAVE FRANZETTA > 7am PDT, 112112)