Succession Planning ~ developing strategies including business valuations;
Every business owner needs an “exit plan” and the earlier in the business cycle this is addressed the better, albeit such plans can evolve as options are presented. An internal transfer of ownership is only one option ~ refer to mergers and acquisitions.
Another concern is the “sustainability” of your firm. New Partners can share the workload in a growing firm. Conversely, the “golden handcuff” can assist retention of highly competent employees; the best expect more than a title to remain committed to your firm rather than hang up their own shingle in competition.
Whether an “exit plan” or “sustainability” issue, call 0408 403 439 or email me to start planning strategies to suit your firm.