We Do More Than Just Manage Money.
As your Fee-Only Advisory Team of Specialists , Concierges, and Legacy Consultants, we are dedicated to helping you discover your needs and achieve your goals so that you may live your life with greater confidence, focus, and peace of mind.
We accept our Fiduciary Responsibility to you.
We do not receive payment from any third party. You are the only one who pays us. We do not accept commissions or referral fees. We work only for you.
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The BVIS™ analysis service uses Tax Data and a national data base based on IRS business codes to provide an initial estimate the business value and the drivers of financial value for your industry.
We Offer Business Coaching, Business Valuation, and Six Sigma Operations Consulting .
Our Business Consulting Services are affordable and effective. We provide strategic, tactical, and operational consulting based on the Kaizen approach and proprietary financial and productivity ratio analysis.
Small to mid-size firms use our organization to analyze, design and craft their standard operations and training regime in customer service, process operations in manufacturing, and standard financial operations and accounting structures.
We use the BSB Process ™ to help you transform your policies, processes, systems, and people. We help you develop a culture of effectiveness and concern for the customer. Our recommendations and employee training reduces "operational friction"" and encourages effective achievement of profit goals.
There are at least 52 Business Skills that an entrepreneur needs to have or needs to secure through a trusted team to be a successful business manager.
Life-Legacy Services is pleased to offer consulting services to new entrepreneurial endeavors as a member of its Board of Advisors.
We know that by helping you become a successful growing enterprise; your enterprise will benefit everyone in the community through your innovation and the employment of local talent. Contact us to learn how we can be of service to you in this critical time of development.
Entrepreneurship is the heart of every business. Every large company started out as a small business, initially led by a Founder. Our economy is dominated by small businesses whose operations, profitability, and eventual succession will have a major impact on our innovation and our economy. The small business is the plankton of the business ocean, critical to the ecosystem, and often invisible until endangered.
We help you with the strategic planning and talent development goals of your organization. Disciplined management and systems is a key to the success of a firm.
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When we do our analysis, we look for bottlenecks and points of "Friction™" that reduce the effectiveness of firms. We use standardized approaches of analysis as promulgated by the CFA Society, the CFI Institute, the CFP Board, the IASSC, and the Accreditation Council of Accountancy and Taxation.
One of the elements we review is the General Ledger's ""Chart of Accounts.". Without the standards of accounting and financial reporting, most firms are building their operational house on a sandbank. History is replete with firms who were thought to be successful, but through error and fraud were found to be worthless. The failure of most firms can be tracked back to their accounting standards, their capital structure, and then their misuse of their people.
Business Valuation Metrics
The common Business Valuation Methodology uses a formula based on many factors to develop the expected sale value of the business at a specific date in the future. The owner of the business needs to know those drivers of growth and profitability, as well as the employees who are key to achieving them in the needed time period. But there is more to the value of your business then just the ratios and metrics. Your business value depends upon the available capital and appetite to buy your firm. Potential buyers may be employees, private equity, vendors, customers, and suppliers.
Some of the metrics are internal and related to the specific business being valued, and some of them external and related to the market and the economy. Completing an analysis of all pertinent factors needs to be done by a professional. A detailed analysis is necessary to determine the operational health and potential value of a business .
The Successful Enterprises are those that Plan for Success and their Succession.
One of the most difficult decisions to make in your professional and entrepreneurial life is the development of the succession plan for your business.
Many entrepreneurs compare it to other major personal decisions such as marriage or the raising of children. Making the ultimate decision even more difficult is the myriad of related financial and personal decisions that do not just affect you. The decisions affect your family, your employees, your customers, your creditors, and your legacy.
Most Succession Planning needs to occur at least 5 years before the planned sale date. The longer the term and stability of growth and profitability, the more valuable the business is to a buyer. A strategic change in the operations of the business is never truly reflected in the profitability or value of the business until five years later.
Too many firms are not paying attention to the details and the complexities of their customers.
They are not paying attention to the true experience the customer has with your team and with the quality of your product.
Too many firms do not have a method to collect and use customer feedback in a positive and effective manner to improve products, services, processes, systems, and people.
Firms are liable for the misinformation their service people provide. The firm is liable for the promises their sales team made in closing the deal and the execution of the service by entire staff.
We encourage the use of the Kaizen methodology to improve your service, sales, and profitability. We use our Lean Six Sigma Business Analysis Process to define and develop the products, policies, process, systems, and people that impact your customer experience.
The Consultants use the BSB Partner’s Discovery Process™ to help you decide upon your succession goals and the recommended strategy.
While the Life-Legacy Consultants assist with implementing the operational and employee development programs associated with your strategy, the LLFC Consultant evaluates the financial, insurance, credit, and other investment factors that impact the strategy.
Throughout the process, we recommend that you engage a trusted and qualified attorney, use experienced professional advisors with business succession training, and our CERTIFIED FINANCIAL PLANNER™ to help you in the planning, transition process, and the financial transaction.