If you own a business in New Zealand and you’re over 50, what you’re about to read is one of the most important messages you’ll hear this year.
You’ve survived Covid. You’ve pushed through labour shortages, inflation, rising costs, and constant operational pressure.
You’ve done what most New Zealanders will never understand — kept a business alive through some of the toughest years in decades.
Well done!
But right now, there is a far bigger challenge quietly forming beneath the surface.
One that will impact almost EVERY business owner planning to retire, transition, or sell in the next 5–10 years.
And the hardest part?
Most owners don’t see it coming.
The Hidden Iceberg Below the Surface (And It’s Completely Avoidable)
Succession and exit planning expert Phil Wicks, alongside the nationwide BSP Advisory team, has helped NZ business owners unlock over $15 million in additional value before exiting.
Value that would have been lost forever without early planning.
Here’s what NZ is facing:
142,000+ small businesses across the country
40% of owners plan to exit within the next 5 years
60% are relying on their business sale to fund retirement
70% have NO exit or succession plan at all
That final number is the real danger.
A business without a plan is like a ship heading toward an unseen iceberg — everything looks calm, but beneath the surface are risks that can sink a sale:
declining performance
the owner becoming tired or ill
cashflow tightening
market downturns
pressure to sell quickly
buyer confidence evaporating
And when owners hit that iceberg, the sale price drops — sometimes by 30–60%.
But here’s the good news:
This disaster is completely avoidable.
With the right plan — the right STEP — you can protect everything you’ve built.
Self-Diagnosis: Are You Heading Toward the Iceberg?
If you answer YES to 3 or more of these, your business value is at risk:
My business relies heavily on me
I haven’t documented key systems
I don’t know what my business is worth today
I want to sell or retire in the next 3–7 years
I have capable staff but haven’t developed a true successor
I want more time back but don’t know how to step away
Most business owners over 50 tick 4–6 of these — without realising the consequences.
Where the BSP STEP Programme Fits In
The STEP Programme was designed specifically for New Zealand owner-operators facing this challenge.
Most owners over 50 will naturally fall into STEP OUT — preparing for succession, transition, or sale.
But here’s the twist:
You cannot Step Out properly until you’ve Stepped Up and Stepped Back.
Meaning:
STEP Up → systems, structure, profit
STEP Back → leadership depth, accountability, reduced owner dependency
STEP Out → preparing for succession or sale
This combination is what dramatically lifts business value and makes your business:
easier to run
easier to hand over
easier to sell
more attractive to buyers
less risky
more profitable
STEP creates options, and options create value.
What Is Exit & Succession Planning Really About?
Exit planning isn’t about listing a business for sale.
It’s about ensuring you get to choose:
how you step back
when you step back
who takes over
how much the business sells for
how you spend the next stage of your life
Effective exit planning does this by:
removing owner dependency
building leadership capability
strengthening systems and financial visibility
improving profit and performance
making the business low-risk and attractive
giving you multiple pathways (family, staff, open market)
It’s the difference between exiting by choice or exiting by force.
Why Business Owners Over 50 Must Act Now
TRUTH BOMB:
Across NZ, we keep seeing the same painful pattern:
Owners wait too long
The business flattens or declines
Health and lifestyle pressure increases
Profitability drops
The business becomes harder to sell
Buyers lose interest
The sale price shrinks
And here’s the tragedy:
Most of this is 100% avoidable.
When owners start planning early, the value increases — not decreases.
Toni & Keith’s story proved this (click here to read).
They freed up time, increased profit, built a successor, AND doubled the quality of their retirement.
You can do the same — if you act early.
The 7 Silent Killers of Business Value
(Almost None of Them Are “Profit”)
High owner dependency
Weak or undocumented systems
Lack of leadership depth
No succession pipeline
Flat or inconsistent margins
Declining energy or health of the owner
Waiting until “next year”
If more than one applies to you, your business is quietly losing value every month.
What Every Owner Over 50 Should Do in the Next 12–24 Months
Get the Business Sale-Ready
This is the part most owners skip.
You must know:
Is the business low-risk to a buyer?
Are your numbers clean and credible?
Is the business too reliant on you?
Could the value increase with 12–24 months of preparation?
Could leadership development lift performance?
This is where STEP Up and STEP Back (Part Of Our Program) add enormous value.
What are the benefits of an effective succession plan?
Structured leadership development
Retention of valuable staff
More value in the business at the time of sale
Improved systems and KPI measurements
Potential increase in sales and profits
Potentially less time in the business for the owner due to successful leadership development
Now, here's the exciting thing about succession planning.
The Benefits of a Strong Succession Plan
Owners are often shocked at how these improvements compound:
Stronger leadership development
Higher staff retention
Greater buyer confidence
Higher valuation
Clearer KPI and financial rhythm
Better profit
Less reliance on the owner
More time freedom
A smoother, low-stress transition
Alot of business owners that go through Step with an advisor end up saying:
“I wanted to sell, but after going through the STEP program I’m earning more, working less,
and I actually like the business again.”
That’s the power of leadership development combined with reduced dependency.
The Domino Effect of Good Planning
We see this often
A business owner comes to us wanting to sell now or within 2–3 years.
Through STEP, leadership grows.
Systems improve.
Profit lifts.
Hours drop.
Stress drops.
And suddenly…
the owner has options.
Sell now.
Sell later.
Sell internally.
Or step back and enjoy life while still owning the asset.
This is wealth creation — not liquidation. Its a beautiful thing when implemented!
Some key points around succession planning
1. Don’t exit without a plan
Hope is not a strategy — especially for retirement.
2. Get expert support
A STEP-trained advisor has done this dozens of times.
3. Strengthen systems & leadership early
This creates profit, stability, and value.
4. Don’t delay
Aging owners + declining energy = declining value.
5. Give yourself every chance to be rewarded
You’ve put in decades of effort. Don’t lose it in the final stretch.
On a scale of 1–10…
How confident are you that your business could run without you?
If your number is 8 or higher — you’re ahead of most owners.
If your number is 5–7 — you’re vulnerable and need to act now.
If your number is below 5 — now is the time to act, no question.
Because your business shouldn’t be a burden.
It should be an asset.
A vehicle for life — not a weight on your shoulders.
⭐ Want Clarity?
Find Out Which STEP You’re In — Up, Back, or Out
Takes 60 seconds. No pressure. No obligation.
Most owners discover more clarity in one conversation than they’ve had in years.
