BUSINESS SUCCESSION ~ A TRANSITIONAL PROCESS

Business Succession Planning in its simplest definition is the continuation of business success.

Fundamentally, business succession planning is about the appropriate transfer and successful long term continuity of an operating business THROUGH the next generation of owners, leaders, and managers. Succession Success™ is dependent upon addressing multiple, interdependent, long-term performance criteria , not just profits or basic estate planning.

Due to the unique nature and constant changes of Feelings, Finances, Family/partner dynamics, and Federal tax laws, succession planning is a transitional process dependent upon continual review, update and refinement. Every business is unique requiring a tailored approach to each situation. Our process involves a detailed plan based on your business, team dynamics and your vision for the future.

FAMILY BUSINESS RE-DEFINED

The Rawls Group believes a "family business" is one where two or more people are gathered together for reasons other than money. Bloodline or not, you truly care about the welfare of each of your partners, managers, employees, and their families.

Emotions run strong in family and business and can become an asset or liability to the business. To be successful, we believe you can’t run a family like a business and you can’t run a business like a family. Business succession is dependent upon a delicate balance between potentially conflicting business and family values and we are driven to encourage the pursuit of the balance needed for Succession Success. There is no business gain worth a family loss. 

SUCCESSION PLANNING BUILDS VALUE

We believe by addressing the issues necessary for the continued success of a business, it will enhance the value of the business . However, there is no one definition of value and success that fits all. There are many different perspectives of value, therefore, we will approach succession planning in a unique way based upon what "value" and "success" means to our clients. Regardless of the definition, successfully addressing the interdependent aspects that are critical to business succession will impact business value.

A TEAM EFFORT

A multi-discipline, professionally endeavored plan for the continued success of a business legacy is best addressed through a well-coordinated team of highly motivated, diverse professionals. It requires everyone who is strategically involved to address personal and business issues, some of which are not easily talked about and typically result in long-term change. We solicit the involvement of other advisors on the succession planning team and serve as the facilitator of this team initiative.