Achieve Business Goals With Our Business Succession Planning
Succession planning is a sensitive process that involves strategic guidance as well as tactical execution. Our team of experts has a wide range of skills and evaluates all potential options for maximizing the value of your company. This unique team of valuation, merger & acquisition, wealth advisory**, estate planning, and business and tax strategy professionals will assist you in answering key issues and developing a successful, well-suited exit strategy to fit your lifestyle.
Individuals, privately held enterprises, and their owners are our specialty. We deliver useful insights that precisely address your company and personal goals, alleviate tension, and provide financial peace of mind, based on our decades of experience. You’ll benefit from your close personal relationship with a team of NetworkBD business succession planning specialists dedicated to ensuring the smooth transfer of your company, whatever shape it takes.
Grab 8 Opportunities With Business Succession Planning
Consider sitting at your workstation alongside someone else. That person could be someone you’ve hand-picked, trained, and put your faith in. It could be someone you’ve never met before. Our knowledgeable staff can assist you, your family, and your employees in preparing for a smooth business transfer.
- We’re dedicated to solving the issues that are most important to you:
- In the event of a disaster, you’ll be able to provide for your family and your business.
- The dynamics of asset and ownership transfer within the family
- Getting ready for a smooth business transfer to employees, heirs, or third-party buyers
- Putting the company in the best possible position for a successful sale or merger
- promoting long-term business expansion
- Leaving a lasting impression on the community
- Having sufficient assets to cover your retirement
Start thinking about how you’ll find out what’s next and go for it with zeal.
Our services for succession planning in the 9 core business
- Transfer of business strategies
- Valuation of a company
- Planning for the future is essential.
- Risk management and insurance
- Management of investments
- Investment banking and M&A advisory
- Professionals with competence in financial, tax, and estate planning.
- Delaware Statutory Trusts and Section 1031 Like-Kind Exchanges (DSTs)
- Due diligence on the sell-side.
Create The Right Transition Strategy With Our Planning Services
Succession planning is typically the most difficult chapter to write in the story of your company. Our team of seasoned business advisors at NetworkBD is particularly suited to assist you in making a smooth transition to the next phase. You won’t find a greater ally than NetworkBD to help bring your business into the future, whether you need an active, hands-on partner to drive the process or a technical adviser to provide support on an as-needed basis.
Because every firm is different, NetworkBD’s succession planning professionals understand the need of adapting the process to the owner’s specific financial needs and goals, both personally and professionally. RKL’s “listen and learn” approach to developing a unique succession plan sets it apart from other area businesses; each engagement begins with our professionals asking, “What do you want to accomplish at the conclusion of your business ownership?” Understanding these objectives is the starting point for NetworkBD’s consultation process, as we want to offer you the tools and resources you need to realize the future you want.
Finally, you are liable for the changes that occur in your company once you are no longer involved. You do not, however, have to make this change alone. We’ll assist you in gathering the resources you’ll need to put in place a practical plan tailored to your company’s aims and beliefs.
How Our Succession Planning Services Work For You?
It’s more than just naming a successor owner and deciding whether your company will be gifted or sold when it comes to succession planning. It entails putting in place strategic, operational, and financial processes in order to maximize the value of your company before embarking on one of life’s most significant transitions.
Our Strategies team will walk you through our Seven Step Exit Planning Preparation process, which will help you evaluate all of your alternatives and then guide you through the process of developing a succession plan. Depending on your requirements, the planning process may involve advice on business valuation, organizational development, profit improvement, strategic planning, key employee incentive, asset protection, business continuity planning, and tax minimization methods. We use a team approach to client support since no one individual can be an expert in everything.
Following the creation of a company succession plan, the NetworkBD team will assist you in implementing and re-evaluating your plan to ensure that it remains relevant to your changing circumstances.
Trust Us For 5 Successful Planning Services
It’s critical for business owners to have an exit strategy in place at every step of their company’s lifecycle in order to maximize value and reduce taxes, resulting in abundant financial independence. Advisors from NetworkBD will collaborate with you throughout the succession planning process and will be able to:
1. Examine, evaluate, and offer recommendations about your entire business and personal circumstances.
2. Calculate the value of your company.
3. Determine how much money you’ll need to retire, and develop wealth, estate, and retirement strategies, as well as put plans in place to achieve financial independence.
4. Create a value improvement study, which identifies the advanced planning and timing requirements for maximizing enterprise value.
5. Examine your business transition alternatives, weighing the benefits and drawbacks of each and deciding on the best way to achieve your financial and non-financial objectives.
FAQs For Business Succession Planning Solution
How much does succession planning cost?
The expense of succession planning varies. Our $9,500 Succession Planning Launch Series is a wonderful place to begin. With the Launch Series, your organization can: Complete six months of work in just two interactive sessions.
How is succession planning done?
Succession planning is a strategy for handing on leadership responsibilities, such as company ownership, to an individual or group of employees. Employees are cross-trained to build skills, company knowledge, and a holistic view of the company as part of succession planning.
What steps does NetworkBD take to create a succession plan?
In a three-phase approach, NetworkBD collaborates with your family, key leadership, accountant, attorney, and current advisors: Phase I assesses where you are currently in regard to your succession goals; Phase 2 focuses on developing and implementing a succession plan based on what was discovered in Phase I; and Phase 3 is an ongoing maintenance program that keeps your plan updated depending on changing life circumstances.