When Phillip Corcoran of SBSGroup in Taranaki approached his new business mentor, he didn’t expect his world to be turned upside down.
But that’s exactly what happened when he put his plans to expand his IT company to business mentor Craig Oliver.
Within the first meeting Phillip said he’d started to re-think his plans of expansion as Craig explored the concept of succession planning and exiting the business.
“Not quite what I had in mind when I took on Craig, but he knows his stuff. Craig is not afraid to ask the hard questions, and at 64 years with health problems, once I’d mulled it over, downsizing seemed like a really good idea. In fact, the more the wife and I talked about it, the better it sat with us.”
From plans of expansion through to a detailed step by step plan to downsize and eventually exit the business, Craig provided a sounding board to Phillip and advised him of the best way forward.
Phillip says his plan is to have the new work/lifestyle balance in place by his 65th birthday – which is fast approaching.
He says the idea is to keep a few clients and to work from home, with no staff, and keep it to about 3 hours a day. “The rest of the time I want to go fishing and enjoy life a bit. “
“I’ve worked for 45 years, and it’s hard to let go, but the time feels right. My health isn’t what is was and I’m slowing down a bit. I’ll still keep my hand in the business, but it’ll be me guiding the boat not the other way around. I am very appreciative of the sound business advice I received from Craig.
Craig is positive, practical and to the point, and the wife and I are extremely pleased we approached him for advice, even if he did turn my world upside down. “I’m liking the new picture of our future and enjoying life a bit more.”