As a result of my experiences helping business owners to find a healthy lifestyle and reach a good work-life balance, I’ve discovered that the transition planning approach can have huge benefits in many different situations.
The process of putting a plan in place for your life can be very advantageous if you are undergoing any type of major life change. Transition planning allows you to envision a future life and create this healthy lifestyle in concrete and practical ways. The step-by-step approach to setting out your goals and sketching out a strategy for reaching them has implications outside the world of business.
What is transition planning?
In my role as a transition advisor, I work with business owners to put a roadmap in place for the next phase of their lives, once they leave their business behind. The first step is to work together to figure out who they are outside their business, then create a custom plan to get their business ready for a transition to new owners.
These two steps work hand-in-hand to ensure the owner is motivated to do the work on the business, so the business no longer relies on them as much. Once the business does not need the owner to oversee daily operations, the owner can start practicing life outside the business.
I’ve observed that many owners have their entire identity tied up in the business. The idea of losing this piece of themselves really frightens them, and this ultimately leads to inaction. If they do not plan and the business falls apart — or they leave it unprepared — they are faced with a lot of idle time. This often leads to dissatisfaction with their exit from the business and can even result in addictive behaviour, as a way to fill a gap in their lives.
This process also works for younger business owners, who may not be thinking of leaving the business for some time. The theory here is to always have a plan to guide you towards a healthy lifestyle. Working on your business allows you to live this healthy lifestyle and helps the business become more self-sufficient. Ultimately, it will also make the business more valuable and easier to run.
The approach also helps career professionals face major changes, such as retirement. Whether or not you are a business owner, if you have spent your entire life building up a career, you can feel lost in the face of a big change.
How does transition planning create a healthy lifestyle?
Transition planning can help individuals become motivated to do work — not just on a business, but on themselves as well. In cases where some form of addiction is an issue, transition planning can help individuals figure out an identity for themselves outside of their addiction and create a plan to transition away from negative behaviours and habits.
The best way to deal with a major change is to find rewarding ways to fill gaps in your lives. Transition planning can help you do this and create a healthy lifestyle going forward.