Business Succession Planning
Fouts & Morgan recognizes this as a process put in place to plan for the company's future. However, despite the best laid plans, changes sometimes have to take place in less than an ideal timeframe. Fouts & Morgan would like to work with you to reduce the risk to your company of the retirement or exit of key personnel, putting a plan in place to underwrite critical stores of knowledge that cannot be replaced if suddenly removed, and which can place great stress on the company.
Our process is known internally as Have a plan, Stan!
Stan is our fictitious business owner that we take through the process of planning for his retirement. As a founder of the business, he is invested in its future and needs to investigate several possibilities for its future. So Stan does the following;
Puts a date in our calendar to talk with us to understand his options well ahead of his proposed retirement date.
Lets us meet with his team to put together a timeline for change, with goals along the way.
Asks for our expertise on valuing businesses for sale, to go public, or to continue as a private company with a new leader.
Never fears as we have the experience to guide him through the process, and can be there every step of the way.
So we recommend the following services to Stan;
which we tailor to meet his needs,and Stan retires happy - and still a client!