Succession Planning

RLA executives have been in many multi-generational businesses and understand the unique issues that only a family business can face. We initially conduct a Business Review aimed at maximizing value for the owner. We then develop a transition strategy and time line that takes into consideration the following issues.

• Owner objectives
  • Guarantee adequate income
  • Provide for relatives and children
• Transition strategies
  • Retain - Identify and train a successor
  • Sell - Find an appropriate buyer
  • Liquidate - Maximize asset value
• Process structure
  • Learn the business
  • Identify the keepers
  • Establish a post-exit strategic plan
  • Assign objectives and milestones
  • Develop measurement/reward system
• Implementation
  • Accomplish the transition within a predictable amount of time
  • Anticipate, confront, and resolve potential conflicts with others
  • Identify and resolve all key issues

RLA will assist the company as needed in implementing the strategy.