Our Business Succession services help you: Determine your goals for business succession Recognize and avoid potential problems Successfully plan for the transferring of your business Transfer your business between family members Continuously monitor, review, and adapt your plan

Succession planning specifically addresses the continuity of the family business.  The purpose of a succession plan is to design a means to transfer a business to competent family managers during the lifetime of the owner, rather than at death.  Succession planning that is only activated by the death of a business owner is highly volatile because of the shocking loss of management expertise and experience realized upon the death of the owner.

Phase 1 — Discovery and Analysis

In the initial phase of our process, we assist you in determining the gap between your existing circumstances and future goals.  Phase I is focused on data gathering and personal interviews to confirm goals.  We analyze all the information and prepare a presentation that identifies potential problems and undeveloped opportunities impacting the achievement of your confirmed succession planning goals.

Phase 2 — Plan Development

This phase focuses on confirming, refining, and implementing a succession plan that is compatible with your unique goals.  We lead the various members of your succession planning advisor team and partner with you to ensure that those pivotal to continuing your business legacies remain committed to the path to succession.

Phase 3 — On-Going Facilitation

Due to ever changing family dynamics, feelings, and finances, our succession planning process incorporates on-going review and refinement of you and your circumstances.  As a result, Phase III is designed to maintain the effectiveness of your succession plan by monitoring and adapting your plan.

Successor manager development, family communications on business matters, and the financial security of the current generation owners and key personnel are critical issues to be addressed for a successful succession plan.  Qualified responsible managers must be identified who will accept and run with the baton of business management.  It is crucial that the family members who will inherit and manage the business develop effective communication and leadership structures to operate as a synergistic team.  Current owners must plan for their personal financial security so that they can utilize the many opportunities for gifting the business to their children without undermining their own financial stability.