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Succession Planning
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Succession Planning
Every business will have a change of ownership or cease doing business. It is the second certainty, right next to taxes.

Small businesses lack the breadth of staff of larger companies, so they are more vulnerable to the expected or unexpected loss of a key player. If such a change were not contemplated and planned for, the company may be thrown into total disarray, threatening its asset base and even its survival.

Even when changes are planned for, it is crucial that you have experience on your side to gain the maximum benefit for those left behind.		 Succession Planning

We have experience with buy/sell agreements (financed by insurance) among key partners. In what is often a very emotional and contentious atmosphere, we bring an objective, seasoned view that stresses stepping back and looking at a fair and realistic plan going forward in terms of ownership. Claw-back provisions can protect the interests of certain parties when unforeseen events occur.

If the business is to be sold, getting the best return requires a comprehensive business plan. Our expertise is implementation-based, focused business plans so that your buyer can pick up wherever you are and keep the process going. We build plans independent of individuals since the long-term value of a business is highest when business success is not dependent on one person's knowledge or experience. Focused strategy and implementation will result in a higher performing business. A higher performing business has a higher value. And higher value results in a higher return on your investment whether you are son, daughter, owner, or buyer.

If your business needs to perform immediately after closing, we can start the strategy process as soon as you can talk with us about it. And if confidentiality is required, we are no stranger to that and can help guide you in the analysis of what you are reviewing.

When it is time to bring in specialists for legal review, tax advice, or closing, we can bring our strategic partners to the table or we can work with your team. If your deal requires non-standard lending, we can help with that as well. Either way, the end result is a substantial improvement in your return on investment—good news for any business venture.

The members of our team have been in family business, the largest segment of businesses in Indiana. We have lived the three roles in family business—child of the owner, owner, and family member who sold the family business to a bigger company (and then worked in the same building after the sale).

Three roles. Three different lives. Three very different sets of needs. Let’s talk about your needs and how we can help.