Succession and Exit Planning

Services Provided

Business Transition Planning:

This emerging field of business transition planning or as some call it continuity planning is comprises of two distinct terms; Succession Planning and Exit Planning.

Succession Planning – is the process of identifying successors within a business. It focuses on transferring the leadership and/or management from one generation to the next within the business. It entails a detailed plan that aligns the family values, build a strong foundation for future business success, prepares successors for leadership and ownership responsibilities while creating a seamless transition to the next generation and beyond.

Exit Planning –is the preparation for the exit of an entrepreneur from his company while maximizing the enterprise value of the company. This transaction is generally to an outside entity.

It important to note that succession planning and exit planning are not incompatible and utilize the some of the same processes for business transition along with working together with other professional disciplines in creating a comprehensive Succession or Exit plan. It is critical to understand that this is not event but an ongoing process and evolve as the business evolves and changes.

Succession Planning and Exit planning are time sensitive issues. We are not immortal and our time is limited and tragedies can happen to all of us. To avoid the un-pleasantries and family / business hardships associated with the 5 d’s (death, divorce, disability, distress and disagreement) spend time and attention in preparing a transition plan for your business and family.

In either transition, Crossroads Advisers utilize the Value Acceleration Methodology. In either transition, Crossroads Advisers utilize the Value Acceleration Methodology. We begin with a Business Transition Assessment and Discovery process that analyze over 35 business functions combined with personal and financial readiness factors. From this information, we formulate a detailed report that is designed around the Masters Planning Methodology three guiding principals:

  • Maximize Company Value
  • Personal and Business Financial Planning
  • Life Planning

This enable Crossroads Advisers to maximize enterprise value allowing the business owner to exit the business on their terms and according to their schedule while ensuring they have the resources to maintain their chosen life style.

Family Governess:

“A business that is well governed is free to work toward the highest and best objectives of business—maximizing profit, improving strategy, creating jobs, fostering employee development and serving all stakeholders, including shareholders, employees, customers, suppliers and the community.”

—Arnoff &Ward

ownership-family-businessFamily Governess is concerned with how a family or privately held business establishes the frame work of how it will govern the organization while at the same time balancing the Business, Ownership and Family ecosystem.

It is important to note that establishing family councils or advisory boards will establish communication channels that will aid the business owners to ensure that all parties involved in will  understand the company’s direction, vision, mission and goals. Which will only add to the enterprise value to the company by aligning all of the principals of the business.

“Coming together is a beginning; keeping together is progress; working together is success.”

—Henry Ford

This too is a process that will constantly evolve as your business evolves. Governance strategies are company specific and should be designed around the uniqueness’s of your family or privately held business.

A company’s governance consist of:

Family Council – The family council is a working governing body that is elected by the Family to deliberate on family business issues.

The family council is established as a representative governance body for the family in coordinating the interests of the family members in their business. The composition, structure and functioning of family councils differ from one family business to another. Some of the duties of a typical family council may include:

  • Being a link between the family, board and management
  • Drafting family position papers on its vision, mission, and values
  • Drafting policies such as family employment, compensation or shareholding policies
  • Dealing with other important matters to the family
  • Drafting a Family Charter / Constitution which defines “the rules of the road” for the family

Board of Advisors / Directors: A board Advisors / Directors are individuals that can utilize outside experiences and expertise to assist the business to set the direction and policies for the business in addition to being the principal organizing mechanism and voice of the owners. The board of directors, which is legally elected by the owners and has legal responsibilities and powers Where as a Advisory Board does not have the legal responsibilities and powers. In either case their primary duties may consist of:

  • Protect the interests of shareholders
  • Help develop policies and shareholders goals
  • Provide performance feedback to senior management
  • Oversee the family’s involvement in the business.
  • Mediate family influences on the business
  • Defining job responsibilities or mentoring roles
“Coaching/Mentoring is the universal language of change and learning”


Coaching /Mentoring

Coaching / Mentoring is a critical component in transferring knowledge between individuals and within Family and privately held business as well as developing relationships within a supportive organizational culture. At the core of coaching / mentoring is the ability to create awareness and understanding of others. It draws out the skills, resources, and creativity that already exist within you to overcome your most difficult professional challenges.

In family businesses, a successful approach for coaching and mentoring emphasizes the complicated web of choices that profoundly shape and affect the family and the business.

This approach tackles the need to develop their human capital and build leadership qualities. By helping family and privately held businesses develop their own unique abilities and skills in the context of the family business. It builds in specific areas of accountability, expectations and metrics that will guide leaders in ways that are specific to the family’s objectives, mission, vision and relationship to the broader community.

Perhaps most significantly, family business coaching can help address challenges that show up at the intersection of family and business and yet cannot otherwise be easily managed through traditional education, advisers’ input, direct family feedback or executive mandate. More specifically, family businesses use coaching to:

  • Practical advice, ideas, plans and opinions.
  • Identify opportunities for or mentoring of next-generation leaders
  • Manage a smooth transition to the next generation
  •  Identify needs, goals and future vision for both the business and the family.
  • Transition strategies.
  • Provide impartial confidentiality perspective or encouragement to the business owner

Coaching and Mentoring Process

  • That means we step into the relationship with the client and meet them at where they are at
  • Utilize a pull system means by asking powerful questions to pull from the business owner to get them to tell us what’s going on
  • We’re here to support you, to listen obtain information from you to assist the business owner in developing solutions or answers

Professional Experience



Advising from a business owner’s perspective.

Crossroads Advisers is a specialized advisory firm serving family-owned or privately held businesses in a collaborative effort with other trusted advisers that recognizes the unique dynamics of business transition, succession and exiting; in addition to passenger transportation services solutions. All designed to provide positive business results and creative outcomes.

Contact Us At: 216.533.4533