Strategic Planning
Planning for Business Transition
What Happens Next?
60-70% of small business owners plan to pass their business on to family, but less than 15% succeed in doing so
A lack of intentional succession planning is often a part of the challenge–transition is possible, but requires strategic planning and intentional preparation.
Family succession is only one of many options
Internal transitions can include a family member, but could also include a key employee becoming an owner (or partial owner), shifting to employee ownership more broadly (ESOP or similar) more broadly, or a number of other structures. External transitions can also take a number of pathways.
What is your ideal endstate?
We start by working to understand your ideal endstate. Based on this, we can develop the necessary steps to achieve those outcomes, from entity structure, financial performance, operational stability, transition proccesses, and everything else needed to make it happen.
My Approach
Unlike big, faceless corporate companies, each small business is unique, with a distinctive story, individual personalities, and often an interconnectedness with the local community. Because of this, I do not take a one-size-fits-all approach. We start with a blank slate and seek to first understand your business and your goals with that business.
How It Works?
Initial Conversation
We’ll see if there is a mutual fit and mutual interest in working together.
Identify Ideal Endstate
We’ll facilitate defining your ideal outcome, whether an internal transition, external transition, or some hybrid approach.
Develop and Execute the Transition Strategy
Depending on the goal, we will identify the required steps to achieve your desired outcomes, and will develop plans to execute in this direction. This may include entity structuring, financial performance, tax planning, operational stability, transition planning, and anything else that is required.