We help business owners solve what seem to be intractable problems, move you to action, and create the blueprint you need for successful transition; whether for an outright sale, or a transition to family or key employees.
For many business owners, succession is a once-in-a-lifetime event. It is full of emotional and relationship issues, not only for the owner, but for family, employees, customers, and suppliers. It is frequently the last and often most-remembered relationship activity they will have with the business. Despite its importance, succession is almost always started too late, under-planned and poorly executed.
The DVIRC Difference
DVIRC’s approach to Succession Planning begins with understanding and articulating the owner’s expectations. Plans for the future must be addressed, including the owner’s vision for the future, the role he or she will she play, if any, in the future of the business, expectations of a revenue stream from the business, and the timeline for the exit.
These and other questions need to be carefully and critically drawn out to help ensure the smoothest transition possible. DVIRC does not compete with any other advisor and we are completely independent, with your best interest in mind.
DVIRC’s Senior Business Solutions Advisor guides you through a process that includes:
- Articulating the owner’s vision and expectations
- Reviewing succession options—including family and key employee topics
- Performing a skills gap analysis, risk assessment, and development plan for future leaders
- A Strategic Business Assessment that identifies what key initiatives will provide a higher valuation or strengthen the business in the future
- Identifying succession options and pinpointing the best one
- Crafting an execution plan
In many instances DVIRC will recommend a formal Business Valuation to determine what an independent third party would pay for your business in the private market.
Having an outside advisor guide you through this process will give you the peace of mind to know that you’re doing the best thing for the business…and for yourself. We’ll serve as your counsel and advocate through the entire process to make sure you realize your goals. Typical benefits of Succession Planning include:
- Protects and positions your company for the future
- Ensures and positions the next generation of leadership
- Helps the current owner optimize his/her transition objectives
Effective and successful succession takes time, so it’s never too soon to get started.
Transitioning your business is one of the most important decisions you will ever make. Yet despite its importance, succession is almost always started too late, under-planned, and poorly executed. Download DVIRC's e-book, Succession Planning: 25 Things that Could Go Wrong, for tips on things to avoid when preparing for your exit.
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