More specifically, I perform the following services for business owners:
Growth & Exit Planning - I embraced growth and exit planning for clients early in my career. It was clear to me that I could provide a more evolved level of services by providing planning services to clients to optimize their outcome rather than merely drafting transaction documents in a reactive manner when a business owner
elected to sell their business. I specifically perform the following growth and exit planning services for my clients:
1. Comprehensive due diligence on all significant personal and business related matters. Identify matters that require attention or correction and opportunities for meaningful improvements. Such services include a complete legal audit.
2. Create virtual due diligence data rooms containing all relevant personal and business documents. Correct or create new documentation that is necessary or advisable. Upon completion, virtual data rooms are ready to be presented to the business owner's other advisors or to be shared with potential acquirers at the right time.
3. Assemble and work closely with persons in other professional disciplines to collaborate with respect to strategies to achieve optimal outcomes for business owners. Such persons may already be engaged by the business owner or we may make recommendations to the business owner to add or to replace certain professionals when it is our recommendation to do so to have the appropriate sophistication to explore and to discover the best ideas to implement to achieve the optimal outcome. I schedule, participate in and moderate communications with all professionals without participation by the business owner to produce recommendations that are clearly expressed with respect to scope, costs, timeline, disproportionate benefit when compared to cost and responsible parties. I then present such recommendations to the business owner and we jointly determine which recommendations to proceed with and the best way to implement those recommendations.
4. Over the time period that follows I manage the process of implementing the recommendations and perform the recommendations for which I accept responsibility. The business owner can remain focused in the business while I spearhead the activities to achieve the growth and exit plan. Regular reports to, and discussions with, the business owner ensure that we remain of a single mind with respect to goals and objectives that may shift over time.
5. The objective may be to transfer the business to an employee, a group of employees, a single child, multiple children or other relatives or to outside third parties. The objective may involve consideration of multiple outcomes at the same time to improve the chances of achieving the identified optimal outcome. We will develop proposed transaction structures of each considered alternative with detail and we will review the structures with the business owner(s) and then with the other members of the multi-disciplinary team. After refinement of the transaction structure with a view to minimize taxes, maximize net proceeds and to minimize risks of post-closing liabilities, a path to an exit will be more clear.
6. I then engineer the exit transaction. I will perform any activity to achieve the outcome that is best performed by me. If other involved parties are more capable to perform the task, I would encourage such party to proceed. I recognize and encourage the proper use of each person's experience, judgment, talents, skills and networks in a collaborative environment to achieve the optimal outcome.
7. I will draft or revise the term sheet or letter of intent and then acquisition agreement and all related transaction documents. I will negotiate the provisions of such documents with opposing legal counsel with determination to reduce the chances of any post-closing issues that will require a return of a portion of any of the purchase price to the buyer.
8. After the closing, I continue to work with the former business owner to consider new opportunities for happiness and fulfillment. Such opportunities have included creation of new for profit businesses, work with, or establishment of, non-profit activities with charities and foundations, and public service.
9. I coordinate with estate planning attorneys, financial planners, and insurance professionals to ensure that the business owner's needs are satisfied. Asset protection strategies are considered and implemented as advisable.
