Services > Succession

Prepare Tomorrow’s Leadership
Attracting, developing, and retaining talent is a powerful tool for leaders to set their organizations up for success for generations to come. Succession planning is a process of identifying the long-range needs of an organization and cultivating a supply of internal talent to meet those future needs.  It is a documented plan for management succession throughout the organization, and gives leadership and the Board a road map for future talent in the organization and how to go about developing that talent, or finding new talent outside of the organization.  This critical - yet often overlooked - process gives businesses a competitive advantage over their competition.

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What’s Next for the Owner?
One of most difficult decisions for a family business owner is to think about life after business. However, the goal of every business owner should be to build value in their company so they can depart on their terms.   There are a number of components to this transition, but two are absolutely critical: 1) developing a plan for what's next, including replacing key work relationsips with new lifestyle connections and 2) build financial certainty so you know you can live the lifestyle you want without a paycheck from the business.  Far too many owners hope something good will happen in the future and everything will work out.  This strategy rarely works.  A proactive approach to planning your exit is the only approach. 

The Single Most Important Document to Protect Your Business
Buy-sell agreements are among the most common yet least understood business agreements.  They are agreements between the owners and the company, and many are destined to fail to operate like the owners expect when they need them. Many, in fact, are ticking time bombs, just waiting for a trigger event to explode.  Some agreements create unintended consequences, while others have become obsolete due to changes in the business, personal life, or other circumstances.  Your agreement should be reviewed at least every five years, and the valuation calculation completed annually.  Don’t let the ticking time bomb go off. 


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