Often the biggest challenge in growing and running a restoration company is to make sure the owners and management team are on the same page and heading in the same direction. We help the ownership team and families to define expectations and goals. We then work to assure that all the stakeholders are in agreement with this direction. This is one of the most important factors in running a small business. This may be uncomfortable but is better confronted early in you business development rather then when you have started to add staff and complexity to your company. It is not our expectation that this will be a confrontational issue and often is not. Addressing partnership issues early is nearly always a good idea. We help you determine your exit plan as well as discuss roles, responsibilities, compensation and even how and when you exit the company. Even if there is not a plan to sell the company in the near future, it is a good idea to define the parameters of the partnership and how to determine how to value the company in the future. Looking into the partnership and family issues will assure that you do not have unexpected conflict in the future.
We also work with family businesses with succession planning. We assure that the next generation has the skills and training in order to take over operations. If they are not ready then we work to develop the needed skills so that they are able to maintain operations and protect your investment. Business Mentors can then assist in determining the business value as well as how the buy out occurs. We often find that family businesses do not have a plan or at least do not communicate the plan within the family or management team.
Business Mentors also assists with internal and external business transfers. The owner needs to assure that their assets are protected through the transition. In small business sales, the owner usually carries a substantial portion of the contract, therefore they need to assure that the new team has the ability to maintain or improve operations. We work with both the buyer and seller to assure that the expectations are properly defined and implemented.