Great stuff if I do say so myself. While geared for residential remodelers the talk applies to any cyclical business owner such as general contractors succession planning, subcontractors including electrical contractors succession planning, plumbing contractors succession planning, HVAC contractors succession planning, engineering firms succession planning and all sorts of distributors, manufactures, professional service firms and the like.
What I covered in the webinar was:
1. Why Succession Planning? Because with a succession plan you will build a better business that will be more manageable. You will resolve management and family conflicts (take it on if you really are willing to do what it takes). You will sell your business when you want to for more money in less time. Why would a business owner not want that?
2. What is a valuable business? Think of an ATM. Simple systems that can be mastered by ordinary people. The ordinary people (who are extraordinary at this point) use the systems over and over and in effect stay around. Works every time. Money or profits come out. While simplified that is what creates value in a business.
3. How do you actually capture and collect the value you created? How to minimize taxes, minimize risk, and maximize price through the preparation and sales process. Some of this is not what you think.
Gregory R. Caruso, JD, CPA, CVA
Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver the highest price in the smoothest sale transaction possible. Harvest provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at firstname.lastname@example.org or 443.334.8000 to discuss selling your business, ordering a business valuation or buying a business.