The Hidden Challenge of Exiting a Business
As a CEPA advisor, you know the technical side of exit planning inside and out—value acceleration, enterprise valuation, tax strategies, deal structures, and estate planning. But too often, even the best-prepared sale transactions leave business owners feeling unfulfilled after the sale. Studies from Price Waterhouse Coopers famously showed that up to 75% of owners experience regret within a few years of selling, not because of financial outcomes, but because they lacked a clear plan for what comes next.
This is where the Second Wave Life framework comes in – developed to guide owners beyond the financial transaction, it provides a structured way to help clients create meaningful, purpose-driven lives after their exit. By integrating this process into your advisory practice, you can expand your value, strengthen client relationships, and secure long-term trust and referrals.
The Second Wave Process Explained
The Second Wave Life process is built around four core dimensions—the 4 T’s Framework—that ensure owners are not only financially secure, but also personally fulfilled after the sale:
- Talent – Rediscovering Strengths and Passions
Business owners may often lose their sense of identity when they step away from leadership. In the Second Wave process, we help them uncover talents, skills, and passions that may have been set aside during years of building their company. Advisors can facilitate this exploration with tools such as strengths assessments, skill inventories, or conversations about legacy projects.
- Tribe – Rebuilding Community and Belonging
One of the most overlooked losses in a sale is community. Owners lose daily interactions with employees, customers, and peers. The Tribe element helps them map out meaningful relationships—whether that’s family, friends, boards, or philanthropic groups—that can replace the sense of belonging their business once provided.
- Time – Designing Purposeful Rhythms
Owners suddenly find themselves with something they’ve never had before: time. Without a plan, it can feel overwhelming or even paralyzing. The Second Wave framework encourages clients to design intentional schedules that balance rest, adventure, learning, and contribution. Advisors can help by introducing goal-setting exercises and tools that align time with core values.
- Treasure – Giving with Purpose
Wealth becomes most meaningful when aligned with values. Many owners want to give back but struggle to know how. The Treasure component guides them to design a giving plan—whether through philanthropy, family legacy, or strategic investments—that creates fulfillment and impact beyond dollars.
Why This Matters for CEPA Advisors
Advisors who adopt the Second Wave framework gain a competitive advantage. Here’s why:
– Deeper Client Loyalty: When you help clients navigate their personal identity and purpose after an exit, you demonstrate care beyond finances. This builds lifelong loyalty and trust.
– Risk Mitigation: Clients who are unprepared personally often derail deals at the last minute. Second Wave planning reduces this risk by ensuring they feel confident in what comes next.
– Long-Term Engagement: By supporting clients post-exit, you maintain relevance even after the liquidity event, creating opportunities for ongoing wealth management, philanthropy planning, and family advisory services.
– Differentiation: Most CEPA advisors focus heavily on the financial or business readiness legs of the stool. By also addressing personal readiness, you set yourself apart in a crowded market.
How to Use the Second Wave Process in Your Practice
- Introduce It Early – Begin conversations about life after business as soon as exit planning discussions start. Position it as part of a holistic readiness assessment—financial, business, and personal.2. Leverage tools, scripts and Frameworks – Use the Second Wave playbooks, worksheets, and conversation guides to structure meaningful dialogues. These tools give you a repeatable process for uncovering client values and priorities.3. Facilitate Family Conversations – Many of the deepest challenges come from family dynamics. Helping owners talk through legacy, succession, or philanthropic goals with their families builds alignment and reduces conflict.
4. Connect to a Larger Purpose – Encourage clients to think about the legacy they want to leave. The Second Wave framework is built on the foundation of Dr. Viktor Frankl’s theories of logotherapy – focus on helping people understand their meaning or purpose in a season of life. Whether it’s mentoring entrepreneurs, launching a foundation, or traveling with family, connecting wealth to purpose makes the exit meaningful.
The Opportunity for CEPA Advisors
The wave of Boomer and Gen X business exits is only accelerating. Owners need more than technical guidance—they need partners who understand the human side of transition. By incorporating the Second Wave Life process, you position yourself as that partner.
You’ll not only help clients protect and grow their financial capital but also guide them toward purpose and impact in their next chapter. For the owner, that means less ‘seller’s remorse’, more fulfillment, and a renewed sense of identity. For you, it means stronger relationships, a differentiated brand, and expanded opportunities to serve as a trusted advisor long after the transaction closes.
Conclusion
Exit planning is much more than just about selling a business—it’s about helping an owner step into a new, purpose-driven life. The Second Wave Life framework gives CEPA advisors the tools to guide clients through this journey with clarity and confidence.
By mastering the 4 T’s—Talent, Tribe, Time, and Treasure—you can ensure that your clients’ second wave is not just successful, but deeply meaningful. The sale isn’t a “transaction” – it is a “transformation”. And in doing so, you elevate your role from transaction advisor to lifelong guide.
