The Succession Solution is a unique process designed for the closely-held business owner who desires greater sustainability with their company and to successfully transfer their business to the next generation of business owners and managers. It combines the business owner’s knowledge and objectives along with our many years of experience in business, estate, tax and strategic planning to achieve a custom designed succession solution.
Business Succession Planning - About The Rawls GroupThe Rawls Group
Since 1973, The Rawls Group has been passionate about helping business owners achieve their succession goals. Nationally recognized, The Rawls Group specializes in addressing the issues that impact the continued success of a business legacy. By partnering with our clients and their other advisors, we work to develop a plan that will perpetuate the leadership, culture, performance, and relationships that are key to business success.
Getting Organized discusses the reasons why someone should get their finances organized. Its discusses the story of people who failed to plan and ultimately put their surviving family members in crisis. It also provides a solution which is to get all your personal documents organized.
References
Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2013). Entrepreneurship (Laureate Custom
Education). New York: McGraw-Hill Irwin.
Custom Create Edition
LAUREATE
EDUCATION INC
196 -1 Entrepreneurship
THE BUSINESS PLAN: CREATING AND
STARTING THE VENTURE
1
To define what the business plan is, who prepares it, who reads it, and how it is
evaluated.
2
To understand the scope and value of the business plan to investors, lenders, employees,
suppliers, and customers.
3
To identify information needs and sources for each critical section of the business plan.
4
To enhance awareness of the value of the Internet as an information resource and
marketing tool.
5
To present examples and a step-by-step explanation of the business plan.
6
To present helpful questions for the entrepreneur at each stage of the plann ing process.
7
To understand how to monitor the business plan.
I
___________ Ent~:?...':~n-~~s_h~_'__~~~h_th_E~i-tio_o -~-7- __ _
OPENING PROFILE
BELINDA GUADARRAMA
The business plan, although it is often criticized as being "dreams of glory," is
probably the single most important document to the entrepreneur at the start-up
stage. Potential investors are not likely to consider investing in a new venture until
the business plan has been completed. In addition, the business plan helps the en-
trepreneur maintain perspective as to what needs to be
accomplished.
• • The development and preparation of a business plan
can entail many obstacles and takes a strong commitment
by an entrepreneur before it can actually be completed and then implemented. No
one knows this better than Belinda Guadarrama, the president and CEO of GC Micro
Corporation. Her company supplies computer hardware and software to Fortune 1000
companies as well as the defense and aerospace industry.
As the entrepreneur of this now multi-million-dollar company, Belinda has been
recognized by two Hispanic organizations-the U.S. Hispanic Chamber of Commerce
and the Latin Business Association-as Hispanic Businesswoman of the Year 2002.
Her firm has been consistently ranked among the 500 largest Hispanic-owned
companies, and in 2008 it received the Boeing Performance Excellence Award and
the U.S. Department of Agriculture Woman-Owned Business Contractor of the Year
award.
Although today she is a successful entrepreneur, the journey was a long and ardu-
ous process with a number of highs and lows. After graduating from Trinity University
and taking a number of graduate courses at the University of Texas at Austin, she be-
gan working for the Texas attorney general as the director of personnel and training.
She later moved to California during the 1980s technology boom to work for a mail-
order software company. Like many others, she arrived at work one day to find a note
on the door indicating that the business was closed.
At that point Belinda made the decision to start her own busi ...
Wealth Transfer for Business Succession and Estate PlanningChristopher Robbins
If you own a successful closely held business and have a family, it is critical to take the time necessary to consider establishing a new plan. This plan transitions your wealth to your heirs while minimizing costs, enhancing open communication that results in greater family harmony during life and beyond while maximizing business profitability. It makes sense, and sounds easy, yet it is not.
FBR System, Family Business Renewal and Wealth Transfer for Business Success...Christopher Robbins
If you own a successful closely held business and have a family, it is critical to take the time necessary to consider establishing a new plan. This plan transitions your wealth to your heirs while minimizing costs, enhancing open communication that results in greater family harmony during life and beyond while maximizing business profitability. It makes sense, and sounds easy, yet it is not.
Did you know $4.28 billion of family wealth is transferred yearly, yet 70% of the businesses do not survive the transfer, and 85% of those don’t even survive beyond the second generation?
Why? Typically there was either no plan or there was a secretive plan unknown until the death of the business owner. Most plans that are drafted are not executed and do not include any feedback from family members.
As a Wealth Transfer Specialist since 1969 I have helped hundreds of families and businesses create their unique transition plan. I offer a proven business and estate planning process that addresses the needs of the business owner(s) while engaging all family members. The successful transition of your business to the next generation involves establishing greater family harmony, minimizing cost, and maximizing business profitability.
Introduction to FBR System Wealth Transfer Planning for Business SuccessionChristopher Robbins
As a Wealth Transfer Specialist since 1969 I have helped hundreds of families and businesses create their unique transition plan. I offer a proven business and estate planning process that addresses the needs of the business owner(s) while engaging all family members. The successful transition of your business to the next generation involves establishing greater family harmony, minimizing cost, and maximizing business profitability.
employee for benefits, including health, retirement, estate planning, business risk, Small Business benefits, Affordable Health Benefits, Key Concern benefits
Business Succession Planning - About The Rawls GroupThe Rawls Group
Since 1973, The Rawls Group has been passionate about helping business owners achieve their succession goals. Nationally recognized, The Rawls Group specializes in addressing the issues that impact the continued success of a business legacy. By partnering with our clients and their other advisors, we work to develop a plan that will perpetuate the leadership, culture, performance, and relationships that are key to business success.
Getting Organized discusses the reasons why someone should get their finances organized. Its discusses the story of people who failed to plan and ultimately put their surviving family members in crisis. It also provides a solution which is to get all your personal documents organized.
References
Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2013). Entrepreneurship (Laureate Custom
Education). New York: McGraw-Hill Irwin.
Custom Create Edition
LAUREATE
EDUCATION INC
196 -1 Entrepreneurship
THE BUSINESS PLAN: CREATING AND
STARTING THE VENTURE
1
To define what the business plan is, who prepares it, who reads it, and how it is
evaluated.
2
To understand the scope and value of the business plan to investors, lenders, employees,
suppliers, and customers.
3
To identify information needs and sources for each critical section of the business plan.
4
To enhance awareness of the value of the Internet as an information resource and
marketing tool.
5
To present examples and a step-by-step explanation of the business plan.
6
To present helpful questions for the entrepreneur at each stage of the plann ing process.
7
To understand how to monitor the business plan.
I
___________ Ent~:?...':~n-~~s_h~_'__~~~h_th_E~i-tio_o -~-7- __ _
OPENING PROFILE
BELINDA GUADARRAMA
The business plan, although it is often criticized as being "dreams of glory," is
probably the single most important document to the entrepreneur at the start-up
stage. Potential investors are not likely to consider investing in a new venture until
the business plan has been completed. In addition, the business plan helps the en-
trepreneur maintain perspective as to what needs to be
accomplished.
• • The development and preparation of a business plan
can entail many obstacles and takes a strong commitment
by an entrepreneur before it can actually be completed and then implemented. No
one knows this better than Belinda Guadarrama, the president and CEO of GC Micro
Corporation. Her company supplies computer hardware and software to Fortune 1000
companies as well as the defense and aerospace industry.
As the entrepreneur of this now multi-million-dollar company, Belinda has been
recognized by two Hispanic organizations-the U.S. Hispanic Chamber of Commerce
and the Latin Business Association-as Hispanic Businesswoman of the Year 2002.
Her firm has been consistently ranked among the 500 largest Hispanic-owned
companies, and in 2008 it received the Boeing Performance Excellence Award and
the U.S. Department of Agriculture Woman-Owned Business Contractor of the Year
award.
Although today she is a successful entrepreneur, the journey was a long and ardu-
ous process with a number of highs and lows. After graduating from Trinity University
and taking a number of graduate courses at the University of Texas at Austin, she be-
gan working for the Texas attorney general as the director of personnel and training.
She later moved to California during the 1980s technology boom to work for a mail-
order software company. Like many others, she arrived at work one day to find a note
on the door indicating that the business was closed.
At that point Belinda made the decision to start her own busi ...
Wealth Transfer for Business Succession and Estate PlanningChristopher Robbins
If you own a successful closely held business and have a family, it is critical to take the time necessary to consider establishing a new plan. This plan transitions your wealth to your heirs while minimizing costs, enhancing open communication that results in greater family harmony during life and beyond while maximizing business profitability. It makes sense, and sounds easy, yet it is not.
FBR System, Family Business Renewal and Wealth Transfer for Business Success...Christopher Robbins
If you own a successful closely held business and have a family, it is critical to take the time necessary to consider establishing a new plan. This plan transitions your wealth to your heirs while minimizing costs, enhancing open communication that results in greater family harmony during life and beyond while maximizing business profitability. It makes sense, and sounds easy, yet it is not.
Did you know $4.28 billion of family wealth is transferred yearly, yet 70% of the businesses do not survive the transfer, and 85% of those don’t even survive beyond the second generation?
Why? Typically there was either no plan or there was a secretive plan unknown until the death of the business owner. Most plans that are drafted are not executed and do not include any feedback from family members.
As a Wealth Transfer Specialist since 1969 I have helped hundreds of families and businesses create their unique transition plan. I offer a proven business and estate planning process that addresses the needs of the business owner(s) while engaging all family members. The successful transition of your business to the next generation involves establishing greater family harmony, minimizing cost, and maximizing business profitability.
Introduction to FBR System Wealth Transfer Planning for Business SuccessionChristopher Robbins
As a Wealth Transfer Specialist since 1969 I have helped hundreds of families and businesses create their unique transition plan. I offer a proven business and estate planning process that addresses the needs of the business owner(s) while engaging all family members. The successful transition of your business to the next generation involves establishing greater family harmony, minimizing cost, and maximizing business profitability.
employee for benefits, including health, retirement, estate planning, business risk, Small Business benefits, Affordable Health Benefits, Key Concern benefits
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
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The Succession Solution
1. Three Gateway Center
401 Liberty Ave
22nd floor
Pittsburgh, PA 15222
www.hh-law.com
The Succession SolutionSM
Stepping Stones for Business Transition
2. The Succession SolutionSM
Critical to the future success of almost any business is planning for its succession. Without it, businesses can face the loss of clients,
key personnel, or encounter family disputes which can ultimately lead to the loss of shareholder value, irreparable damage to employee
and family relationships, not to mention the destruction of the founders’ legacy. That’s why we’ve created The Succession Solution.
The Succession Solution is a unique process that lays a realistic and practical foundation for future transfer of business and wealth
in an efficient, methodical and objective manner. It is designed to help closely-held business owners create a step-by-step approach
for the transition between generations of business owners and managers.
The process takes into account the intangible as well as the tangible assets of the business—leadership’s values, wisdom and
responsibility—in order to provide a holistic view when establishing the succession plan. We combine the business owner’s
knowledge and objectives with our many years of experience in business, estate, tax, and strategic planning to prepare a plan
that meets your financial and lifestyle goals.
Take the Steps
The Succession Solution uses a 5-step approach outlined
below to review, evaluate, and prepare a customized
succession plan. To begin on your path to succession
planning, consider the questions in each of the steps
and then contact us to help you proceed.
1. Evaluate Stakeholders’ Position
• Identify personal and business objectives
• Review existing succession structure
• Evaluate if existing plan meets current objectives
Question: What are your top priorities (i.e. comfortable retirement,
business succession, naming successor, transfer of wealth)?
2. Analyze the Environment for
Risks and Opportunities
• Identify existing business and personal succession risks
and concerns
• Determine steps to avoid or mitigate significant risks
• Discover new opportunities from risk mitigation
Question: What potential risks or concerns do you have in the
succession of your business (i.e. inadequate retirement,
qualified successor, family harmony)?
3. 4. Commence the Succession
Program
• Identify responsible parties and tasks
• Develop milestones for each action
• Execute on strategy
Question: What are your expectations of the time, people and
resources required to execute your succession plan?
3. Design the Succession Path
• Confirm/revise succession and legacy objectives
from opportunities and risks
• Identify resources to leverage opportunities and
avoid dangers
• Determine short and long term steps
Question: Who else should participate in this process
(i.e. spouse, business partner, children)?
5. Confirm Success
• Evaluate impact of new plan
• Compare to establish objectives
• Re-adjust if necessary
Question: If your succession plan objectives were met in the
timeframe you identified, what would have to have occurred to
make you feel good about the process?
4. For more information, contact:
Bradley J. Franc
412.288.2218
francb@hh-law.com
What Clients Are Saying About The Succession Solution
“During our first meeting with Brad, we were impressed by his direct approach and ability to ask the “tough
questions”—questions that needed answers in order to advance the succession planning process—but in a manner
that did not alienate any of the stakeholders. At times it would have been easier to focus on the present state of
the business and not think about the future, but Brad’s professional demeanor combined with his sensitivities to
family dynamics helped to take the sting out of some difficult conversations our family members had to have.”
Bruce Edwards
Brookside Lumber Company
“My family retained Brad Franc for both Corporate Succession Planning and personal estate planning. Expertise
and knowledge was clearly our goal in seeking out a firm. However, I believe the strength of an estate planning
attorney is also defined by the ability to keep the process moving forward to completion. This skill mixed with
expertise was the ingredient that pleased us most.”
Michael Kranich, Jr.
President, Kranich’s Jewelers
“Business is always full of uncertainty. One of the biggest is how to transition a family business into the next
generation. With Brad’s help, my business is already well into Act II. While my children are managing the
business today, it won’t be long before Brad will be helping them prepare to the third generation.”
Michael Baker
Baker Gas
“I have been working with Houston Harbaugh since 2004 when a member of our family passed away, leaving
us with many unanswered questions as to how to proceed in the family business while protecting us and future
generations. When we were introduced to Brad Franc, we had no idea where to start planning for our succession
needs. Brad was wonderful in taking the time to explain the options and benefits of different ideas we each had.
We continue to work with Brad in making sure our succession planning is current as well as other business
related issues that arise. I have found any member of the office efficient and knowledgeable.”
Lisa Skander
Skander Tire Service Inc.
“My business is celebrating 50 years in operation, and we have been engaged with Brad Franc for almost half
of that time span. Initially, we worked with Brad on corporate organization and planning, then embarked on
business succession planning as the next natural step. Granted, succession planning doesn’t need to take the
20 years we have dedicated to it, but, with Brad’s help, we have made a number of significant decisions—and
implemented resulting actions—in that time to smoothly transition our business from first to second generation.
We’re focused now on second to third generation transition and, again thanks to Brad, we’re confident we will
be one of the few businesses nationally that successfully carry a family business to the third generation.”
Glenn Kress
Kress Brothers Builders, Inc.
Brad Franc, Author, The Succession Solution
As an attorney, experienced entrepreneur and former certified public accountant,
Brad Franc has a broad knowledge of what it takes to start, manage and transition
a business. He leverages this unique perspective in his role as advisor and
counselor to clients of all sizes from all sectors involved in the succession process.
Having worked with more than 200 family business owners, Brad is distinctly
effective in helping business owners prepare an organized and structured
succession plan. Brad’s focused, process- and detail-oriented approach keeps
planning on track until conclusion.
Brad has practiced business and estates and trust law at Houston Harbaugh for
more than 25 years. During that time, he also founded three successful businesses.
With two businesses listed on Inc. Magazine’s list of fastest-growing businesses
eight separate times, Brad has personally experienced every phase of a business’
life cycle—from start up through transition.
Three Gateway Center
401 Liberty Ave
22nd floor
Pittsburgh, PA 15222
www.hh-law.com