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If the owner or current management were gone tomorrow, would the business survive? For business owners who want to plan ahead but aren’t yet ready to turn over the business, BTS offers transition planning services. Current owners must consider how to bullet-proof the business to ensure a premium sale price at the time of a planned (or unplanned) sale or transfer of the business.
Transition planning is a critical, but often overlooked, part of an exit strategy and estate planning. If the operational know-how and relationships don't easily survive the sale, the business is at risk and value of the business will suffer. Potential buyers must see that in their hands the business would continue to flourish. Inheritors can receive a failing company that months prior was profitable and growing.
How have you:
- captured the knowledge of how to run the firm,
- secured critical relationships,
- invested in the infrastructure to enable key functions and roles
...so the firm can survive and flourish without you?
BTS Transition Planning is a consultative approach to helping define personal and professional objectives, assessing the state of the business and its readiness to transition ownership / management identifying and mitigating areas of greatest risk.
This activity should include an update to the business' strategic plan. Businesses that have documented such planning and operational capabilities are more successful and ultimately more attractive to potential buyers.
Contact BTS today to introduce yourself and your small business interests. We’ll help you navigate to a transition strategy suited to your needs. No fees are charged for introductory meetings. |
