Succession Planning: Simplifying the Complex

Succession planning is complex. It’s almost like someone gave you a big bucket of random Legos, showed you a picture of a Lego car, and said “build that.” No directions, no additional perspectives. You are on your own. Does that sound fun?

Succession planning is the same way: There are lots of Lego blocks (a valuation Lego, or a deal structure Lego, for example); some apply to your situation, and some don’t. And if you had instructions and some perspectives to fill in your blind spots, you could whip through it in no time. It might even be fun.

That’s where we come in.  

SuccessionWorks™ is a methodical approach to help you efficiently navigate the succession planning process.

• We determine what modules you have, what modules you need, and how they all should fit together.

• Every succession plan will have certain modules, such as an equity migration plan, a management migration plan, or a continuity plan.

• Many plans will have additional modules (we have 30 total), which can include loans, partner criteria, incentive compensation, or analysis to determine if an internal plan is an option.

When you contact DeVoe & Company, we will guide you through a brief series of questions to craft a personalized SuccessionWorksPlan™ for your company. It will clearly define what you have, what you need, and how it all will fit together. And then we can get started, get it done, and allow you to get back to the fun stuff: serving clients and growing your business.