Business Advisory Services
Business Advisory Services through CFG Legacy Planners
You’ve achieved the American dream, owning your own business and forging your path to provide for your family, your future. But are you ready for what's next? Our business advisory services can help enable your continued success in the next chapters of your business, your life and your legacy.
If you are like most business owners, a majority of your wealth is tied up in your business. This puts you in a different position than others that have pensions or more liquid assets such as a 401(k). Are you relying on the proceeds from the business to support your retirement? Are you aware of your business's value and the tax consequences of a transition? We can help. Our expertise is in coordinating your business and personal planning details and providing order to the process - maximizing your business value, providing insight on the transition process and helping you meet personal income and legacy goals throughout your life.
Top 10 Reasons for Business Valuation
- Better understand Your Business and its potential Know the value of your largest asset so you can plan for Retirement
- Ensure the business and your family are Properly Protected
- Create a Succession Plan
- Pay the right amount when you Buy a business
- Get what it is worth at Sale
- Create Buy/Sell Agreements with business partners
- Explore Funding Opportunities
- Establish a Trust or create an Estate Plan
- Prepare for Taxable Events such as gifting or grants
Our Business Advisory Services Include:
- Business Value Enhancement Strategies
- Informal Business Valuations
- Formal Business Valuations (available through affiliates)
- Business Exit/Transition Assistance
- Business/Commercial Debt Review
- Buy/Sell Agreements
Your Business & Your Time: Learn How to Get the Most out of Both.
If you are like most successful business owners, you’ve spent a great portion of your working years building your business. Now what? What’s next? Do you want to get the business to the next level? Do you want to continue running the business, but have more time for yourself or your family? Or are you starting to consider selling the business? Are your children potential successors and do they have the necessary skills? Do you have that next generation of leaders already in the company? If you aren’t the sole owner, how do you structure a buyout? And if you sell, how will that affect not only your life, but your lifestyle? Can you maintain the lifestyle you are accustomed to? Success can bring great financial rewards but also increased complexity. And a ton of questions you may never have considered before. We help business owners connect the dots…to help simplify the complex and enable you to create a business that can thrive with or without you. And we can do this in tandem with your current team or our team of experts. Mike Moffitt, President of CFG Legacy Planners, helps owners focus on what’s important and helps them get better control of key aspects of their business. Our business advisory services include a step-by-step process designed to make your company less dependent on you and more valuable to potential buyers down the road, all while giving you back more control over your time.
A Deliberate Process with Your Involvement
Our comprehensive research, analysis and planning process is completed with your feedback and involvement. While you are entrusting us to help you, we are also partnering with you to understand your specific situation, challenges and goals. We have a deliberate process in place to gather all information needed. Our approach views our services in two planning areas – the personal and the business. Not everyone owns a business, but in either case we always start with a Discovery process to learn more about you and what you want to achieve.
The Discovery Process
The personal side focuses on your values, goals, relationships, financial situation, current advisors, interests and how you prefer doing business (your process). We ask a specific set of questions to provide us with information in these areas that we use to construct a personal map. When completed you have a great deal more clarity of your situation which allows for strategic financial planning, including estate planning.
The Advanced Plan
After the Discovery Process is the Advanced Plan.
The advanced plan is a step beyond the basic investment plan. It focuses on wealth enhancement, wealth transfer, wealth protection and charitable giving. Consider it a STRESS TEST of what you are currently doing to see if your current planning is effective. Most business owners will have/need an advanced plan because their situation will almost certainly be more complicated than those who don't own a business.
The Value Acceleration Process
The Value acceleration process is used for both your Personal and Business Goals. The Discovery process for this is a comprehensive examination of both your personal and business situation to create a plan that will enable you to grow and preserve their legacy. We identify ways to reach your goals by increasing business value and family wealth.
The Value Builder Questionnaire
The 13 Minute Value Builder Score questionnaire allows us to assess your company’s value (within a range), identify areas needing improvement, uncover red flags, and set the stage for determining a plan of action. The deliverable from the questionnaire is the 30-page assessment.
The Value Builder assessment is further divided into scores for each of the 8 key business value drivers so you, the owner, can see how your company compares relative to the industry average score. This also helps identify stronger and weaker areas of your business.
Owners seeking business growth
Growing a business is a key goal of most business owners. There are basic concepts and tools used by thousands of companies around the world to clarify, simplify, and achieve their vision. We help you look at your business in a whole new way by understanding and honing the key components to growth.
Owners nearing a potential business sale
Every business, at some point, reaches a time where ownership changes or the company closes. Selling a business that has substantial value can benefit from advisors who possess specific knowledge of your company’s industry. We use our connections with experts who have knowledge and experience in dozens of industries, advocating on behalf of clients who are buying, selling, or recapitalizing a business.
Owners transitioning the business to family
Building a transition plan between outgoing and incoming family owners can be complicated. Beyond determining whether the younger generation has the prerequisite commitment and competency, can the business financially support the needs of both generations? We help you negotiate the intricacies of all the factors that must be addressed when passing the torch between generations.
Owners exploring multiple exit options
There are many exit options for owners. You could sell the company, (sell to employees, sell to outsiders, sell to management, sell to family), sell its assets and close the doors, gift it to family, or maybe even take it public if it’s big enough. Which strategy is best for you? It all depends on your circumstances, your personal goals and often your family goals. We help walk you through the process when you just aren’t sure which solution is best.