Successful business transitions require a wide range of expertise. The business should be valued. It may be necessary to grow the business before the desired sale price can be achieved. The owner will need financial planning both prior to and after the transition. There will have to be planning done to minimize the tax consequences of the transfer as well as future estate taxes. There are risks of premature death and disability that will require insurance. No one advisor can reasonably be expected to provide the expertise in all these areas. Owners don’t have the expertise, and worse, they don’t know what they don’t know. Successful business owners are likely to be too busy running the business to effectively orchestrate a transition. Business owners need a quarterback to orchestrate a transition.
After 38 years as founder and managing partner of his CPA firm, Vesey and Weeks PC, Steve sold it to devote his full efforts into exit and transition planning. He has helped hundreds of baby boomer business owners get to the finish line and develop answers to the question what's next? In 2017, Steve's efforts were recognized in his receiving the ninth annual Excellence in Exit Planning Achievement Award given by Pinnacle Equity Solutions. Pinnacle is considered the national leader in exit planning. Steve is also a Certified Business Consultant (CBEC) and a retired Certified Valuation Analyst (CVA). His 38 years of business ownership, plus having gone through his own exit, provides Steve with insight that most advisers simply do not have. He understands the processes and steps involved in measuring your mental and financial readiness, creating a range of value for your enterprise, and an exit strategy. In addition, Steve has found and enhanced a new technology that allows the preparation of a rock solid analysis of value of small businesses as well as those in the lower middle market.