2019 EPI Survey
Standing the Test of Time
Growth Stage
Development of Your Business
If your business were an engine, is it running at peak performance?
• Have you assessed the gap between your current value and the potential value of your business?
• Can you measure your business peak and poor performances?
• Are you really growing profitably?
• Are your operating agreements up to date and disaster proof?
• Have you built a comprehensive personal financial needs analysis that coordinates with your business?
• What is your number?
• Do you know what the 18 drivers are and which ones you should be paying the most attention to?
Mature Stage
De-risk and Preparation of Your Business Transition
Will your planning today create better results in the future?
• Is your business transparent?
• Is your business transferable?
• Is your business sellable at the highest multiple?
• Are there dollars left on the table due to operations and market position shortcomings?
• Does your personal financial plan align with your business succession strategy?
• Do you really know your retirement number?
Succession Stage
The Execution of Your Business Transition
How do you start to build your succession plan today?
• Identify what you need.
• Identify what you have.
• Identify all succession models available to you.
• Identify to whom to transfer ownership.
• Identify how to transfer ownership.
• Identify if your family estate plan is fair and/or equal?
A Tidal Wave of Retiring Business Owners is Here
83%
have no written plan
66%
do not know all of their transition options
80%
of businesses will not transition as desired
Now is the Time to Start
The longer you put off planning, the more limited your options become. Let us guide you through the succession process.
Navigating the complexities of family businesses
We are no strangers to the relational and financial complexities of being in business with family. All too often we deal with issues of equality versus fairness, including the difficult conversations surrounding who is best suited to carry on the family business. Not only do we have years of experience in working with families, we also have access to reputable family business psychologists who can help resolve these very sensitive issues.
Other mistakes we see
• lack of a business continuation plan
• absence of adequate liquid assets outside of the business
• management inequities, such as treating family members differently than equally qualified non-family employees
Avoid the mistakes we most commonly encounter
The number one mistake we see business owners make when it comes to succession planning is procrastination. Waiting too long to create your desired outcome can be costly. When you no longer control when, to whom, and for how much you will transition your business, you have waited too long.
What will happen to your business when you are no longer at the helm?
If this is a question that keeps you up at night, you are not alone. Over the years, we have helped scores of business owners address this and many other complex issues pertaining to business succession.