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Case Studies

Recognizing the Children Can Do It

CHALLENGE:  Successful business owner has two of his children involved in his business.  As he looks toward the future, he knows he has been successful running the business but it has greater potential than he is willing to manage as he looks to retire.  He would like to turn it over to one of his children but he isn’t able to see them running the business.

PROCESS:  Going through our 7 step process, we were able to determine that financially his business was on solid footing and his retirement plan was on track.  In order to determine if the children could take over the business, we interviewed them.  What we found was the talent and determination to get the job done. What they needed was help managing their father. 

We brought in a Right Fit Consultant who evaluated the children, the father and the company.  He determined that one of the children was absolutely the right person to succeed his father and what role the daughter should fill.  We then shared the results with the father in the context of his goals and aspirations for the company. 

RESULT:  Upon seeing the report and assessments the father realized they could develop a plan to turn the business over to his son and the business would be successful.  Since then, the owner has begun the transition process and the business has never been stronger.  The owner is on track to retire according to his plan and feels confident in the future of what he built.


Selling The Business

CHALLENGE:  An owner developed a strong business and while family has worked in the business here and there, none of them want to be a part of it long-term.  Financially it has gotten all of them where they are today and no one wants to see it die out or go to people who will not value what it has done. 

PROCESS:  Through our 7 step process, we were able to determine a time frame for selling his business.  We worked through the strategic issues that would need to be addressed in order for a successful sale.  We also worked with him to identify potential buyers from within his circle so the buyer would appreciate the company the way he does.

RESULT:  The short list of buyers has come from customers and suppliers.  As of now, he has three conversations going that could result in the sale of his business.  He understands he will have to kiss some frogs, but at the end of the process his business will be in good hands.

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Check the background of this financial professional on FINRA's BrokerCheck