Succession Planning
Many will attempt succession planning on their own and then, after the fact, call us to assist them to unwind the deal. The issue is not unwinding the deal, it is communicating to the clients that you are no longer associated with that firm; in other words you are telling them you made a mistake. That does not give them confidence, quite the contrary. It is imperative the succession-minded firm/professional(s) understand the full process of clearly established goals, understanding the role and responsibilities of all involved, all nuances of a deal structure, post-merger integration strategies and be informed of various considerations when merging for purposes of succession. This knowledge share is where Legacy Transition Advisors excels.
Valuation
Many believe every firm is valued at 1X gross billings. That would be akin to believing that every Form 1040 is the same. Neither is true. Though they are discussed as part of the valuation process, value determination has little to do with billings or collections. There are dozens of factors that contribute to or deduct from value. Legacy Transition Advisors will help both firms discuss, review, identify and determine all considerations to value.
Deal Structure & Negotiation
Many believe “deal structure” is the mutual agreement of the financial and timing terms of an agreement. This singular approach to deal structure is the major reason so many firms demerge or never achieve their full potential. Deal structure is not just a “pre-merger” discussion; it must include and fully detail the post-merger activities, responsibilities, integration and active timeline. Legacy Transition Advisors will share and fully voice our experience, expertise and observations.
Practice Growth Strategy Consulting
Practice growth strategy consulting focuses on four fundamental activities. These can be bundled or individual services. The four activities are:
- Professional Development Plan for internal staff advancement.
- Path-to-Partner plan development for those that seek manager or partner career paths.
- Client Acquisition Consulting which helps identify both internal and external opportunities to better service clients and increase billings.
- Merger or Acquisition Readiness Planning, a consulting service that enables your firm to perform effective pre-planning to leverage time and opportunity when meeting with a target firm.
LET’S START ACHIEVING YOUR GOALS TODAY
Your contact is appreciated. Please feel free to call us at 800-513-3151 or use the “Contact Us” form below.
IMPORTANT NOTE: Many discussions are sensitive or confidential in nature. At Legacy Transition Advisors we treat all conversations and meetings as such. In the event you feel the content or topic of a conversation is of a sensitive or confidential nature please ensure you provide us a private method, email or phone, of responding to and communicating with you.