Second opinions and outside advice are critical for business owners if they are to maximize the potential of their organizations. This is particularly true when it comes to short-term and long-term financial planning and to cash planning.
While business owners have their own trusted accountants and bookkeepers, The Growth Team has the ability to independently and objectively analyze the current status of the business… and to suggest strategies for maximizing return… and to do the heavy lifting in four critical financial areas.
Wealth Accumulation – Let’s face it. Most people go into business to make money. That’s the bottom line. But in the end if that “making money” goal doesn’t specifically include helping the owner or owners accumulate wealth for them, the owners have little more than a job. The Growth Team’s outsourced CFOs and financial strategies help create strategies and implement plans to make sure that the owner or owners maximize their financial, emotional, and personal investment.
Succession Planning – Each year more and more U.S. businesses fall under the category of “family businesses.” Perhaps our economy is the reason. Or perhaps younger people have fewer employment options and choose to become a part of the family business. Regardless, if a business is to continue beyond the current generation of management, plans must be in place now to handle that inevitable day when the senior leader is no longer able to participate in the business. The Growth Team’s approach is to build flexible plans and to review them with our clients periodically to make sure that every contingency has been addressed and that the business doesn’t miss a beat as a result of poor planning or no planning.
Exit Strategies – Sooner or later every business owner decides it’s time to stop… to retire… or to go in an entirely different direction. As in the case of succession planning, strategies and plans must be in place now in order to maximize the owner’s return on investment. We are fond of saying that business owners can’t wake up one morning and say, “This is the day I’m selling my business.” It takes time and planning. The Growth Team can lead the way so that the business is extremely attractive to a buyer and that they buyer can come in from day one and operate the business.
Valuation – You can’t sell your business without knowing what it’s worth. The Growth Team is able to help you understand and justify the price you put on your business. Without a professional valuation you could be leaving thousands of dollars on the table… or setting yourself up for failure because you’re asking a price that no one would ever pay.