Progression Planning

Tomorrow’s Task or Today’s Business Imperative

Every owner eventually exits their business. It is critical that business owners develop detailed exit strategies that manage both when and how to leave their business.

We will work with you to develop individually tailored exit plans. We understand that building, developing, and managing a business is more than simply a job. That’s why we aim to ensure that when you do exit:

The timing for the change is optimised
Your financial goals are achieved.
Your business is ready to continue successfully.
Your transition from business owner is smooth and natural.

The Needs of the Owner and the Needs of the Business

Research shows that many small to medium size business owners are considering retiring. However few have ownership or management succession plans in place.

A succession plan greatly improves the chances of your business continuing successfully after you exit. This is especially true where the exit occurs suddenly or unexpectedly, due to ill health for example. Transferring leadership of a business shouldn't be rushed. Rather a succession plan provides a calculated progression that places you and your business in an optimal position for your exit.

We recognise that personal and family interests are always at stake. This is regardless of whether the business is being passed onto family members or sold to an external party. We will spend time with you to understand the needs and expectations of you and your family. The succession plan that we develop with you will balance your personal circumstances with the needs of the business.

Our role is two-fold; mentors and consultants.

Mentoring

Achieving a successful transaction to the next generation is the final great achievement for many business owners. We understand that business succession can be an emotionally complex issue that may involve a degree of conflict within the family unit itself. Our role as mentors is to help you find the path that is right for you, your family and the business.

Starting to develop a succession plan during the years before you plan to exit, when there is no immediate pressure for answers or action, allows you sufficient time to fully consider every option. Confidence in your succession plan and its ability to facilitate a smooth succession should remove much stress from the time of your exit allowing you to concentrate on personal changes.

Consulting

The successful implementation of a business succession plan requires the expertise of more than one person.

We act as both your primary adviser and the bridge between you and external consultants as required; ensuring that your succession plan is meaningful and successful in financial and non financial ways.

As a business owner contemplating a future exit plan, your primary concern is to maximise your company as a financial asset.

The changes we recommend may be subtle or significant. Either way we will recommend them based upon experience and expertise, knowledge of your business, and an understanding of its position within your industry.

Family Succession

Many small to medium sized businesses are family owned and often passing the business onto the next generation is the preferred succession choice. Keeping the business in family possession may be desirable but you also need to be confident that it is a sound business decision.

The successful continuation of your business clearly has special personal significance. The expectations of different family members’ and their roles within the business and family are crucial. Our succession process addresses the special circumstances and issues that arise when business succession occurs within a family.