Vince Mastrovito - Why Do Owners Stay Too Long?

To Read This Episode's Transcript: Click Here

Back with us once again is Vince Mastrovito, Exit Planner at Prometis Partners. Vince is a serious succession planner: he’s a certified business exit consultant, CBEC, a certified exit planning advisor, CEPA, a certified value builder, CVB, a certified disc plus coach CDVC, and 2019 Member of the Year at the Exit Planner Institute. Vince is very well-versed in this area and brings enthusiasm to finding creative solutions for each of his clients. He’s seen people, for one reason or another, stay in their business far too long. 

In his interview, Vince discusses a variety of reasons someone may stay at the helm of their business longer than they should. He discusses some of the things that may sneak up on the business owner if they aren’t diligent enough and decrease the business value when they do decide to exit. The retirement you dream of depends on careful planning that starts early. Vince also helps people find their passions again in order to help them continue feeling fulfilled after they leave the business they know and love. Vince’s tips are always powerful, and you don’t want to wait to hear this advice.

1-Minute Sections: 

• 4:51-5:53: A few general reasons why owners may stay too long.
• 9:54-11:04: A few ways to approach realistic business valuation.
• 15:15-16:12: Ways a wealth manager can help sustain or increase a client’s current lifestyle through planning.
• 19:23-20:12: Circumstances in which a business owner's exit goals may be unrealistic for an exit planner.
• 20:44-21:54: Discussing helping owners find their true passions by challenging them.