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Register Now: Greensboro Workshop For Trucking & Logistic Companies

Summary of Workshop:

This workshop will explore areas of risk for business executives and owners which will include interactive discussions about the challenges facing the trucking industry.  This session will create an awareness of Risk Management that should encourage every executive to assess their own business.

Objectives:

At the completion of this session, you will be able to:

  1. Identify risks
  2. Quantify the risks
  3. Mitigate the risks
  4. Evaluate your businesses on a regular basis
  5. Establish a good controls environment
  6. Identify business process and improvement opportunities
  7. Plan your exit strategy

Who Should Attend: Presidents, Owners, and Business Executives

Cost:  $75.00 for NCTA Members and $125.00 for Non-Members  

When:  May 24, 2017

Time: 9:30 AM – 11:30 AM

Location: SelecTrucks of Greensboro, 6383 Burnt Poplar Rd, Greensboro, NC 27409

Speaker: 

Dave Recchion is a Principal and leader in the Greensboro office of LBA Haynes Strand. Dave is a client serving Principal and heads up our firm’s Risk Advisory and Internal Audit practice where he is able to leverage extensive industry knowledge, relationship skills, and experience in risk based consulting within Fortune 500 environments. Dave brings 30 years of professional experience to our Firm, including 13 years with Ernst & Young where he served as Global Coordinating Services Partner. Most recently, Dave founded a highly profitable Risk Management Firm in High Point, NC known as SeeRisk Management Advisors, LLC for the past 4 years

Register Now!

3 Design Tips For Your Exit Strategy

A successful and effective exit from a business usually takes more than a miracle. I do believe in miracles, however gaining the greatest value for your company doesn’t usually happen without a solid design and execution. As a business owner contemplating a future exit, you should be focused on a plan that includes the following 3 design tips:

1. Timing

Is the market right? Are other parties interested in acquiring your company? Do you have plans for after your exit? Do you have more passion or anxiety over the business?

Timing is everything if your objective is to maximize the value of your company. Don’t be a statistic, too many company owners run the company up the growth curve, and down the other side before relinquishing control and exiting the business. Companies frequently grow beyond the capabilities of the owner, so all these considerations will help you determine the right timing.

2. Value

Have you completed a valuation on the company? Can the value of the company be improved? Will the exit event provide the revenue, cash and stability you desire and need?

Value is the number one driver for most executives contemplating an exit. However, value is nearly impossible to change if you have one foot out the door. Value creation is difficult but will yield the greatest financial reward for each dollar invested. Reducing costs, improving processes, increasing margins, managing debt, hiring the right resources and growing the top line are all important factors in gaining the greatest value for your business. A good business advisor can help you navigate through the projects that offer the highest return on value.

3. Succession

Do your leaders have the skills, interest and passion to carry on and improve the business? Do you financially need the business to perform after your exit?

Succession is not an issue if you are emotionally and financially detached from the exit event. In this scenario, succession is the problem for the acquirer and the seller can take the money and run. However many small business owners can’t afford to detach financially and therefore must be concerned about the quality of the successors (family members or employees). Complicated exit scenarios tend to create succession challenges and as a result will have a negative impact on the value.

Exiting a business is not an event, it is a process. Albeit an emotional process, it requires a proper design to get the most out of the final exit event. Exiting your business is much easier when you understand the 3 design tips and  have a plan to answer the tough questions regarding. . . Timing, Value and Succession.  Then you can ” Exit by Design”,  and not exit by mistake or miracle.

LBA Haynes Strand Has Acquired SeeRisk Management Advisors, LLC

LBA Haynes Strand is excited to announce the acquisition and combination of SeeRisk Management Advisors, LLC to our family. Effective December 1, 2016, Dave Recchion, President of SeeRisk Management Advisors, LLC, has joined the LBA Haynes Strand team as a Principal and leader in our Greensboro office. Dave brings 30 years of professional experience to our Firm. After working as a Partner with Ernst & Young for 13 years, he founded and ran a highly profitable Risk Management Firm in High Point known as SeeRisk Management Advisors, LLC for the past 4 years. Dave will join Johnny Wood as the Principals of the Firm leading our Greensboro Office.

The combination with SeeRisk Advisors will greatly expand our client service offerings to include: Risk Assessments, Internal Audit outsourcing, Internal Controls, Sarbanes Oxley, Process Improvement, and a specialization in Risk Management Strategy. In addition, Dave brings a unique service offering for family and privately owned businesses called, “Exit By Design”.  LBA Haynes Strand clients will have immediate access to this offering which includes a design session and strategy development for a successful transition for clients ready to exit their businesses. Many business owners struggle with the decisions related to selling, merging, and handing down their family and privately owned businesses. The “Exit By Design” offering helps clients identify and build the greatest value for their business, while designing the best exit strategy from their business.   

Prior to founding SeeRisk Advisors, Dave was a Partner with Ernst & Young, where he held a key leadership role in their national advisory practice. In his role as Advisory Markets Leader for the Americas he managed strategic client relationships on a national and global level, where he developed and executed the firm strategy surrounding Risk Advisory Services. 

John Bly, CEO of LBA Haynes Strand, PLLC, while expressing his excitement for the combination and addition of Dave was quoted as saying, “Process improvement and Risk Strategy methodology will enable us to dig deeper into the challenges that face our clients and help identify and mitigate their strategic, financial, compliance, operations, and reputation risks before they impact the business. The addition of Dave to our leadership team demonstrates our commitment to provide a complete and holistic view into the needs of our clients”. 

Please join us in welcoming Dave Recchion to the LBA Haynes Strand family!