Solid foundations allow your business to perform.
Another word for structure is "foundations". We see the foundations for a family business as understanding your business model, establishing the right legal structure, developing a governance and responsibility framework for the business (functionality) and planning business succession, or your exit strategy.Contact Us
In The New, New Thing, Michael Lewis refers to the phrase ‘business model’ as “a term of art.” And like art itself, it’s one of those things many people feel they can recognise when they see it (especially a particularly clever or terrible one) but can’t quite define.
We can help develop the financial model for your business to work towards and achieve. This structure dictates what the business will and won’t do. Over time, we will review and reinvent it to keep it in line with your goals.
Succession planning is a process requiring all family members to be on the same page. To achieve this, we can help you set up an agreed plan that meets the goals of all family members. If you are looking for an exit strategy, we can help liquidate your financial and business assets discretely, so you can retire or move on to another venture.
As it costs a lot more to wind up or change a business legal structure than to establish a new one, we can help you take the time, and work with your lawyers, to get it right in the first place.
It not all about tax! The structure of your business should consider risk, asset protection, potential future sale of the business, succession, retirement, simplicity, cost, finance and the goals of the family.
The legal structure must be fit for purpose.
In business, there are management, operations and support functions.
You’ll need to break down exactly who does what, when and how. This framework will dictate ownership for each of the responsibilities.
Habit 3 - Stephen Covey
“Begin with the end in mind”