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Introduction

 

When entrepreneurs start a business, the last thing on their minds is succession planning. Most business owners spend a lot of time – as they should – on Operations Plans, Marketing Plans, Capital-spending Plans, Maintenance Planning, Staffing Plans…and more. But what about Succession Planning? Wouldn’t you like an orderly “exit” from the business, once it’s time for you to take a back seat?

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Why Business Planning is Important

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You’ve built your business through sweat, toil and tireless effort. For most entrepreneurs, their business operations represent a legacy that they’d like to leave to the next generation. And what would happen to the business in the event that you are suddenly incapacitated – is there someone reliable that can step into your shoes? Have you thought about the customers/clients that depend on the goods/services your company provides – who would service their needs if you are not around?

More importantly, given that many loyal employees count on working for the business long after the owner has passed, it makes sense to ensure someone with the proper vision for the business succeeds you.

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Without a proper succession plan in place, family strife and internal (company) politics would threaten the future of the firm as a going concern. In some cases, companies without sound succession plans find themselves being pushed into bankruptcy or receivership. 

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There are far reaching repercussions for not having a well-thought-out succession plan. Unfortunately, all of them are not too pleasant for the business, the business owner, his/her beneficiaries and the employees working for the company!  

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What We Can Do For You

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Simply put, our Business Succession Planning service provides business owners peace of mind – the kind that comes from knowing you are well-prepared to relinquish control of the business on your own terms. And we do that by ensuring that the stewardship of the business passes into hands that are designated and approved by you - the business owner.

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But succession planning is not just about designating a particular individual or group to step in after you’re gone. Our Business Succession Planning team lays out a comprehensive process for identifying, screening, grooming, and ultimately transitioning ownership to your designated successor/s when the time comes.    

Here’s a preview of what our Business Succession Planning service covers:

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  • Strategizing succession: Helping you identify the ideal succession strategy based upon any number of “end game” objectives that you have in mind: Maximize sales proceeds. Minimize tax implications. Create a lasting legacy. Assure a comfortable retirement.

  • Building succession plans: We’ll consult with you about possible succession strategies: Pass the business on to your next generation? Hand it over to designated/trusted employees? Have professional management teams from outside step in and take over? Sell the business to a competitor and pass the proceeds to your heirs? Go public, leaving it up to the Board of Directors to deal with the company’s future?

  • Understanding the impacts: Together, we will walk you through all of the legal, financial and tax implications for each of the various succession scenarios proposed. This impact analysis will help you determine which of the succession approaches makes best sense for you and the business   

  • Identifying successors: Depending upon which strategy you choose, we’ll work with you to identify a list of skills and qualities needed in your successor. This phase of our Succession Planning often results in recommendations for training or mentorship well in advance of your exiting the company

  • Multi-disciplined advice: In the event that the plan involves selling all or part of the business, we will work with a team of advisors, including Accountants, Insurance Agents, Realtors and Estate Planners to determine a fair and equitable valuation for the business

  • Relationship-building: Finally, we’ll work with you to establish a comprehensive timeline for key milestones within the plan. And because our service is based on a long-term relationship, we’ll continually monitor and consult with you as your succession objectives evolve or change

noah@dreyfusswm.com

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Jackson, Wyoming Office:

680 S Cache St Suite 100-12679,

Jackson, WY 83001

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This website and its content are for informational and educational purposes only.  It is not intended to meet the objectives or suitability requirements of any specific individual or account, to provide tax, legal or accounting advice, and to be considered a solicitation for the purchase or sale of any security.  You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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WARRANTIES & DISCLAIMERS
 

There are no warranties implied. 

Dreyfuss Capital Management is a registered investment adviser located in Jackson, Wyoming but operates a nationwide practice. Dreyfuss Capital Management may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Dreyfuss Capital Management’s website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links.

Accordingly, the publication of Dreyfuss Capital Management’s website on the Internet should not be construed by any consumer and/or prospective client as Dreyfuss Capital Management’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Dreyfuss Capital Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Dreyfuss Capital Management, please contact the state securities regulators for those states in which Dreyfuss Capital Management maintains a registration filing. A copy of Dreyfuss Capital Management’s current written disclosure statement discussing Dreyfuss Capital Management’s business operations, services, and fees is available from Dreyfuss Capital Management upon written request. Dreyfuss Capital Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Dreyfuss Capital Management’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. 


This website and information are provided for guidance and information purposes only. Investments involve risk and unless otherwise stated, are not guaranteed. This website and information are not intended to provide investment, tax, or legal advice.

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© 2020 by Dreyfuss Capital Management

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