Galliard Family Business Advisor Institute
Are you a family business advisor whose age starts with a 5 or more? Are the people in your office walking on eggshells wondering what happens to them when you retire? Are you practicing what you teach about planning for what happens to your practice when you begin your “third phase?”
…“I feel like I’m molting,” I found myself saying to a friend earlier this week. Have you ever experienced that—you experience so many big changes in a compressed time period, that you feel like you’ve shed a layer of skin, or maybe two or three?
…Planning, whether for growth or for a graceful exit, is similarly important in our own businesses and with our family business clients.
…Use this simple template to help develop your exit planning strategy proposal.
…A strategic way for private and family-owned companies to implement succession and sale strategies is through utilizing Employee Stock Ownership Plans (ESOPs). With this method, the unique goals of the owners and company serve to focus our approach, as we assess, structure, and implement transactions for our clients.
…As a business evolves and grows, the roles and expectations of managers, including owners, begins to shift. However, in many cases, this simply happens by default, with little or no discussion. Problems can arise when expectations differ and when people don’t perform in a way that is consistent with expectations.
…Family business owners often ask us how a solid exit plan can increase the value of their business and ensure a fair price if and when they put their business on the market. In addition to making sure you have a successful products and services, there are actions you can take to increase both the value of the business and the likelihood that you will realize that value.
…Paul Svendson and Paul Hajek, Business Valuation specialists, experienced consultants, and coaches will help us to understand the different types of valuations, how to prepare your clients, when to introduce this process and how to help your clients to understand next steps.
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