Stephan PoschikHost
And especially when you take a look at the service-based businesses and hear consultants, coaches, training businesses, way over 80% are owned by people who are 50 years, 55, maybe even 60 years plus.

And they are in a specific situation and a huge amount of these business owners are entering an age where they can retire or they could already retire or they want to retire somewhere in the next couple of years.

They in a lot of situations unfortunately are experiencing a very hard time when it comes to exiting their business or retiring their business.

And most of these businesses, like I mentioned, are first ran by Bami Boomers and they are still owned by the founder.

The founder literally worked his ass off over the last 10 years, 20 years, 30, 40 years.

And they do not have successors or they do not have people who want to step into the business because their kids or their grandkids even watched them work on the weekends, work during vacations, destroy their health from the last 10 years, 20, 40 years.

So the next generation is so much not interested to take over this business and step into this business.

Now there is another situation because most of these businesses are suffering from something that's called key man dependency.

So that just one person or two specific persons, because the company is so small, that one specific person is responsible for nearly everything.

About 70 to 80% of the connections and the relationship is between the business owner and all the customers.

So what would happen if the business owner suddenly steps out of the business to retire or sell the company? 70 to 80% of the customer relationships are going to disappear.

So this would not work because this business owner cannot just step out of the company.

And especially when you take a look at the service-based businesses and hear consultants, coaches, training businesses, way over 80% are owned by people who are 50 years, 55, maybe even 60 years plus.

And they are in a specific situation and a huge amount of these business owners are entering an age where they can retire or they could already retire or they want to retire somewhere in the next couple of years.

They in a lot of situations unfortunately are experiencing a very hard time when it comes to exiting their business or retiring their business.

And most of these businesses, like I mentioned, are first ran by Bami Boomers and they are still owned by the founder.

The founder literally worked his ass off over the last 10 years, 20 years, 30, 40 years.

And they do not have successors or they do not have people who want to step into the business because their kids or their grandkids even watched them work on the weekends, work during vacations, destroy their health from the last 10 years, 20, 40 years.

So the next generation is so much not interested to take over this business and step into this business.

Now there is another situation because most of these businesses are suffering from something that's called key man dependency.

So that just one person or two specific persons, because the company is so small, that one specific person is responsible for nearly everything.

About 70 to 80% of the connections and the relationship is between the business owner and all the customers.

So what would happen if the business owner suddenly steps out of the business to retire or sell the company? 70 to 80% of the customer relationships are going to disappear.

So this would not work because this business owner cannot just step out of the company.
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