Biltmore Executive Group’s Post

Encouraging all my staffing industry friends to sign up for what will a great panel on navigating the sale or succession of your staffing company. Still time to sign up! Michael Napolitano Martin Borosko Chad Gardiner #letstalkstaffing #staffing #staffingindustry Citrin Cooperman

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Three common mistakes that agencies make in negotiating financial terms with their clients: (1) Not establishing a mechanism to translate pass-through cost savings into additional earned compensation. (2) Not clearly articulating how the agency will be compensated in the event of early termination. (3) Not negotiating payment terms/schedules that ensure the agency stays cash positive on the client's project. If you're not sure whether your client agreements are setting your agency up for financial success, we'd be happy to help. #agencylife #negotiationstrategy

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https://lnkd.in/gG9n5_c4 Check out my contributions to the below article that talks to the importance of succession in business.

Part 4 The answers to the questions: Formalising Succession Plan: 1. The family should employ an independent advisor to conduct interviews and assessments of all family members and stakeholders. Based on the findings, a formal succession plan should be drafted, clearly outlining potential successors' roles, responsibilities, and pathways. 2. The family should start by clearly defining the roles and expectations of each family member in the business. A well-documented plan should be created with input from every family and non-family stakeholder. Legal and financial advisors should also be consulted to form a binding document. Get in touch for a free consultation or to find out more. Visit us online at https://bit.ly/3s7EQqI, email [email protected], call or WhatsApp on 27826761994. #vectorconsulting #generationalweath #business

Part 4 The answers to the questions: Formalising Succession Plan: 1. The family should employ an independent advisor to conduct interviews and assessments of all family members and stakeholders. Based on the findings, a formal succession plan should be drafted, clearly outlining potential successors' roles, responsibilities, and pathways. 2. The family should start by clearly defining the roles and expectations of each family member in the business. A well-documented plan should be created with input from every family and non-family stakeholder. Legal and financial advisors should also be consulted to form a binding document. Get in touch for a free consultation or to find out more. Visit us online at https://bit.ly/3s7EQqI, email [email protected], call or WhatsApp on 27826761994. #vectorconsulting #generationalweath #business