Succession Planning Program

Our Business Succession Planning Program is designed to strengthen companies so they can successfully navigate the transition to the next generation of leadership and/or ownership.

It typically involves working with the incoming management team to improve their skill sets. It is not meant to replace accountants, lawyers, or financial planners. Our succession plan ensures the business has the strength to handle the transition.

When implemented in advance it is designed to increase the value and sale-ability of the company. Click on the image below and scroll down for good articles on Valuation presented by InfoCanada.

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Many company owners are considering retiring or moving on to other pursuits. Having a well thought out strategy for management succession is in everyone’s best interest: the owners, their family members, shareholders, employees, customers, suppliers and if a selling the company is the chosen option – the purchasers as well.

Initially, we’ll use a Company Accountability Matrix to clarify your options and develop a management succession strategy that works for you. Here are some things to consider:

  • Your Goals, Objectives and Timelines
  • Exit Strategy Options – examples: family transition, employee purchase, selling to outsiders
  • Retire and Retain Ownership with Management Successors – possibly minority shareholders
  • Company Valuation & Purchaser’s Financing Options – Consult with a Valuation Expert
  • Management Successor – Selection and Training
  • Legal and Taxation Issues – Consult with Lawyers and Accountants
  • Estate Planning – Consult with a Financial Planner

The program’s primary role is to ensure your company has the strength to handle the upcoming transition without negatively impacting ongoing business operations. The result is often a stronger company that’s worth more to a prospective purchaser. Significantly more in some cases.

Our Business Succession Planning includes elements from both our Company Strength Program and our Management Training Program to the degree that they are needed. It also involves assistance in finding and working with the other professionals who are needed to successfully complete the succession process. Legal advice, tax advice and financial planning advice are important as the process unfolds. This can significantly improve the net proceeds that you receive for your company.

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While it can be competed in a shorter time frame, a five-year horizon is preferable for a number of reasons. To be clear – the first three years are mostly planning and the costs are minimal.

In the Greater Vancouver, Surrey, Langley area we have working relationships with an impressive team of lawyers, accountants and financial planners. When you need them they can be valuable players on your succession team.

The twin goals are to ensure that you are well rewarded for the effort you put in building the company and also to position the company for a prosperous future ahead.

Read testimonials for our Succession Planning here 

Pricing is by quotation. For a free consultation contact us here

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Primary service area: Greater Vancouver, Surrey, Langley

Serving Vancouver, Langley, Surrey, Burnaby, Coquitlam

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