Transition Exit Planning is a process, not just a deliverable. Working in a team atmosphere and collaborating with experts as necessary, we help owners examine the business, personal, financial, tax, legal and value issues necessary for a successful transition. Many owners have devoted their lives to building their business, and given little or no thought to “what’s next.” In too many cases, the owner has not thought about what possibly is the biggest challenge ever: how to retire. We help the owner cover these bases in advance and develop an action plan that will hit the mark. Ultimately, the extent of analysis and involvement of other specialists is determined by the owner’s goals. The end result is a Life After Business Report that contains all the recommendations and plans, with specific and useful steps to reach the goal.
Strategic Transition Planning incorporates many of the same processes covered in an exit plan. However, in this case the goal is to enhance value and to transition a business to the desired stage. This will involve working with owners to identify strengths and weaknesses, establishing goals and ways to achieve them, and a strategy for the future. Often these engagements span several months. The end result is a Strategic Business Report that contains recommendations and plans. We will follow up with companies after developing the plan to monitor progress. Ultimately, if the owner’s goal is to merge the company with a similar entity or eventually to sell to a third party, we will set a timetable to optimize value and then represent owners in the transaction.
