Growing, Protecting, and Transitioning Your Business

Growing, Protecting, & Transitioning Your Business

We help business owners handle the “big picture” issues so they can stay focused on building for the future.

We help business owners handle the “big picture” issues so they can stay focused on building for the future.

The Life Of A Typical Business Person

As a business owner, you are well-acquainted with the demands of operating a company. It is easy to become overwhelmed with the management of day-to-day operations such as capital and financing challenges, human resources, marketing, production and shipping problems — and the list goes on.

If you are like most business owners, once the day is over, it’s time to invest in your family and other things that get you away from business. And, the idea of thinking about “big picture” business and estate planning is not too appealing.

Not only are you exhausted and wanting a release from business pressures, you can find it very difficult to keep up on all there is to know about handling these “big picture” issues with all their tough decisions.

Often you will rely on your professional advisors to keep you on task, but they are also consumed with the legal and tax matters and can put off for months and years the focus it requires to properly structure your business and estate plans.

Consequently, “big picture” items can be put on the back burner for too long and if a Critical Financial Event occurs, before you’ve organized a serious plan, you, your family and your employees can be hurt significantly because there was not enough focus and attention on building the right plan for you and your family.

Critical Financial Events Can Suddenly Occur…

  • A business owner who is close to retirement, who has no potential successor who both personally and financially ready to own the business
  • Lack of an exit strategy to sell the business at retirement or when burnout occurs
  • Potential loss of a key employee due to a family heir taking over the business from a parent
  • A major catastrophe such as a death or disability of an owner, a major revenue producer, or a manager critical to the business
  • Loss of a key executive to a competitor due to a very valuable incentive compensation plan that helps him or her build wealth beyond their paycheck
  • Sparse benefit package or lack of adequate communication causing misunderstanding and strife with employees
  • Federal and State income taxes at the death of a major shareholder forcing liquidation and a significant discount in the value of the business
  • Conflicts between siblings who are in the business and those who are not regarding current income possibilities and potential inheritances
  • Disputes between key executives as to fairness in compensation and various incentive formulas given their different job responsibilities

If these, or other events, are not continually identified and planned for, revenues, profits and the basic culture within the company may suffer severe trauma.

To overcome ongoing Critical Financial Events, a business owner needs a professional business advisor who has a clear understanding of the issues, the devastating impact they can have on a company and the knowledge to provide solutions to prevent them.

The professionals at Nabity Business Advisors are skilled at helping business owners find the right solutions.