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.