Forbes Magazine states that nearly one-third of family businesses do not survive the transition from the first generation to the second generation. Why? Forbes says that the potential pitfalls are too numerous to count, but the common thread is that these family businesses tend to act less like businesses and more like families; which leads to poor decision making, resistance to change and, ultimately, an inability to compete.
Our firm stands truly unique. Our founder is a third generation preparer that has consistently managed to maintain a family atmosphere while keeping a strong professional structure and performance. It is clear that many people believe their accountant is charged with only the financial issues of their business. As accountants, to do our best, we need to understand a business from the inside. Our firm goes the extra mile to know and understand each business as well as the individuals running them. Then, as professional advisers that have worked closely with a wide variety of businesses over the last three generations, we are able to offer objective and impartial perspectives on a multitude of issues.
One family to another, we get to know and understand the goals you have set forth for your business. Knowing where you want to be in five years, ten years or more is very important when making decisions on a day to day basis. Helping with the business planning is where we move from the family atmosphere to the professional. What is taught in universities and business schools across the country as SWOT is a methodology we have incorporated since our inception. Looking at companies Strengths, Weaknesses, Opportunities, and Threats can often help family business owners decide how to better use their strengths and take advantage of industry opportunities. In addition, family business owners must be able to anticipate threats and exploit the weaknesses of competitors.
What makes us different…. is the client! We know that every client is unique. To be the best professional adviser to each client we must first and foremost get to know each client (who) followed by the what, where, why, when and how they want to operate. Then we can look at the Strengths, Weaknesses, Opportunities and Threats. Finally, we walk with them as part of a team; professionally advising, encouraging and uplifting as a family.