Business Succession Planning

Whether your long-term goal is to sell the business or keep it in the family, let us help you bring all the pieces together.

Bewildered by Succession?

Our 360° Approach

Business succession planning doesn’t have to be complicated. The desired result is pretty simple: Your business should continue to thrive and grow for future generations.

Our decades of experience will streamline the process, efficiently handling all details that impact the value of your business and its ongoing success.

The Succession Matrix®, a 10-Point Perspective

Family issues, management turf wars, mediocre performance, unprepared successors, and key manager retention are just a few of the common concerns you may be facing. We pinpoint the problems, untie the knots, and help you build a strong, sustainable business that lasts for generations to come.

We evaluate and approach your business from 10 unique, yet highly-connected, perspectives, providing a 360° view of your environment.

With no stone left unturned, you can have peace of mind that your goals will become your achievements.

This is a complex process we walk you through. Click here to learn more about the succession matrix.

Owner Motivation & Perspective

Motivation and perspective establishes operating direction and performance expectations.

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Personal Financial Planning

Use the fruits of your labor to build personal financial security independent of the business.

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Successor Preparation

Learn and apply six key attributes for evaluating your potential successors.

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Leadership & Management Continuity

Management Synergy & Teamwork

Teamwork is not a natural behavior in business. But team dynamics can be taught.

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Business Structuring

The structure of your business impacts taxation, control, and access to cash flow.

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Business Performance

Achieve and maintain a high level of performance before succession occurs.

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Strategic Planning

Know where you want to go and how to get there to end up in the right place.

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Family Dynamics

Improve family relationships to help achieve your business goals and succession vision.

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Family Governance

Establish Family Governance processes to sustain a business through multiple generations.

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3-Phase Succession Process

Addressing current business issues and long-term decisions can be overwhelming, especially when emotions are involved.

Our process relieves business-family anxieties by simplifying what can be a complex planning environment.

As you begin your journey, remember, succession planning is a process, not a project.

We work in a three-phase process that is comprehensive yet allows for the needed flexibility as circumstances may require. We tell the truth, and sometimes it is difficult. However, our honest assessment of your current situation is only told in an effort to allow you to achieve your goals. With regular attention, you can find the gratification that comes from knowing you’ve done everything you can.

Knowing where you are starting from and where you want to go is essential.

The focus of this six to eight week process includes:

  • Discussions with you about your goals, feelings, management team, family members and your vision for the future.
  • Discussions with your key managers, family and strategic advisors on similar topics.
  • Data collection about your business financials, buy-sell agreements, franchise agreements, personal finances, current estate plans, business performance metrics, strategic plans and any other factual issues that impact your business.

Your unique situation is evaluated from 10 different, but highly connected perspectives, which provides a thorough understanding of your business and family environment.  At the end of Phase 1, you are presented with observations and considerations of potential problems and opportunities that are impacting your goals.

This is where we hit the ground running.

Phase II generally lasts about 12-18 months and is a highly collaborative and creative environment for developing solutions to meet your needs. What is referred to as an “Update Action Agenda” is used to organize and prioritize your most pressing projects amongst the planning team. This phase engages all players that are critical to the future success of your business including you, family members, key managers, and strategic advisors.

At the end of Phase II, strategies have been established and set in motion. With succession planning being an ongoing process, there will be long term strategies that will need further attention such as successor development, strategic planning initiatives, management teamwork, etc. However, rest assured that before Phase II is over, your most pressing needs have been pro-actively addressed.

Phase III’s purpose is to ensure you are still going in the direction that you want to go.

Changes in your feelings, business opportunities, finances, family dynamics, and tax laws all can have a substantial impact on your succession strategy. Change is ok, and should be expected.  As changes occur, we review and make the needed refinements to your plans, ensure goals, feelings and vision remain in alignment.

The best time to plan for your legacy is now.

Get in touch, and we’ll help you take the first steps.