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"Helping businesses and owners groom for transition"

Succession Planning and Implementation - Employee
The situation: Mr. Owner is 58, he has grown the business for 30 years... they are doing $20 million in sales, there are no children in the business, his retirement/his net worth is "locked" in this business. He is anxious to get some of his sweat equity out in cash, and, he does not want to fully retire, he still has some productive years...

His right hand man and the leadership team seem to be capable, but, Mr. Owner has always ruled with an iron fist, he makes the calls, his team is seasoned, but not tested.

The business really has no strategic value in the industry so the value on the "open market" is limited...

Mr. Owner starts thinking about selling to his leadership team, he starts talking to his attorney and CPA about ESOPs...

We yell at the top of our lungs. STOP! Do not get the cart in front of the horse. Yes you trust your number two... he/she is a great guy/gal...

But, wait until you implement a very structured business strengthening program, spend "26 months" focusing. This way you can guarantee yourself a successful succession and maximum value. You are the one who built the company, do not short yourself!

As a business owner, you want to "insure" that you get your money.. The best way is to make your business and your team are as strong as possible BEFORE entering into discussions.

Sure it is ok to plan, get your Attorney Mark Finkelstein, involved, get your CPA Mike Constantino or Franklin "pole" Roberts involved, get your financial advisor Alexander Mihajlov involved... but wait on involving your employees, they are not yet owners, keep them focused as employees and grow them into leaders first and owners second..

Often these deals are struck on point in time results coupled with on-going, forward results. Set yourself up for the best results.

Real-World Description of This Category:

First This will sound similar to our generational succession comments...  Beware "insurance agents" disguising themselves as succession experts, yes their products are often a key component in the financial side of the "deal", but that is only part of the story.

Second: Employee successions as something you can solve with an off the shelf plan, see my diatribe on strategic planning, succession plans get caught in the same mire and muck as "weekend" retreat long-term strategic plans..  You implement and integrate employee purchase succession plans.

Do we or do we not fit?:  Sure, this is what we do. Our specialty is this sort of organizational grooming so you get the maximum returen.  What we do not do. We are not the deal guys, the legal guys, the value guys, the annuity guys, we do not help with the ESOP proper, we just make sure it is successful for all involved.

What position we play if we fit:
Implementers and coaches.

What heavy lifting do we do for you in this category? We use the EOS proven process to make this reality.  We carry you through this period of change, we are the horse you ride, the vehicle you use to make this change stick. We carry you and your team, we are the glue, the reminders, the teachers, we will not allow you to fail. We do not do it for you, but we are there with you as you do it. That is our promise.

Other reference Notes:

We specialize in discrete, real world, measurable, optimization, using methods and processes practiced and proven by thousands of companies coast to coast, not just in our backyard - The Triangle
Contact: 919 345 6079

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