Harvest Transition Solutions

Many owners have become aware of the benefits of ESOPs as a strategy to ensure continuity, employee retention, and an exit that is more likely to provide a financially secure "Life-after-exit". Unfortunately; it is not an option for most businesses due to the cost, complexity, and employee base necessary for it to be a viable solution. There is another solution - Worker Cooperatives; that may provide a more accessible path to employee ownership as an exit strategy. Laws such as 2018's Main Street Employee Ownership Act and this year's California Employee Ownership Act are making educational and other resources available for owners interested in learning how such a solution can be a win-win for all.

Harvest Transition Solutions updated their address.

Fuel gauges ensure you don't run out of gas (or charge), temperature gauges warn you of overheating, and speedometers safeguard you from traffic court. All play an important role in managing the condition of your car (and your driving record) So... what gauges do you have to manage the condition of your business? KPI's (key performance indicators) are just the tools the mechanic ordered. That said, it's equally important to know that you're measuring the right things for the right reasons. For example, if one of your objectives is sales growth, you'd also want to measure margins (are the increases due to discounting) and returns (is sales growth in part due to aggressive practices/overselling product/service benefits) to determine whether those increases are worth celebrating...or are at the cost of your company's profitability and credibility.

There are few things (if any) more gratifying than finding your purpose and pursuing it vigorously. I'm so grateful to have found mine, along with the opportunity to serve so many entrepreneurs in fulfilling theirs!

The idea for Harvest came from considering farming as a metaphor for the business life cycle. It's also what inspired my upcoming book and related resources "Sow, Feed, Grow, Reap". Not only is the idea of farming universally relatable, it can be easily broken into 4 logical steps that can easily be used to educate and guide business owners along their journey and use an obvious illustration to communicate the importance of exit and succession planning to not only their own financial security; but the sustainability of the business, its employees, and its customers once they've moved on. Think about it - what would happen if 75% of farmers planted, fed, and grew their crops....but never harvested them? A domino effect of negative outcomes, right? Yet, 3 in 4 business owners do exactly that - start, grow, and manage wonderful businesses that wind up dying in the fields simply because they didn't prepare for harvest season. If you're a business owner or an advisor who serves them, please feel free to reach out to learn how we can help you prepare for a "reap" a bountiful Harvest from what you worked so hard to sow, feed, and grow.

As another Holiday season is upon us, we count ourselves grateful for the Blessings of Family, Friends, and the small business community we are fortunate enough to serve. Happy Thanksgviving from our family to yours.

Still have outstanding PPP 1 & 2 loans? Haven't applied for forgiveness? Tune in tomorrow as I'll be joined by colleagues from the SBDC and SBA to give you an overview of this new and expedited forgiveness option being rolled out to lenders, as well as free resources to help you through the process and one step closer to loan forgiveness. register now https://lnkd.in/gG3nXN5

What do a space-traveling billionaire and a small business owner have in common? Click here to find out https://www.linkedin.com/pulse/final-frontier-harvest-transition-solutions

The Final Frontier? In 1969, a young Brit (along with many millions of others) observed the first steps on the Moon, marking the birth of his dreams of going into space. 52 years, over 400 businesses, and many adventures later; he did just that.

Just because you may have been a flower child when you were younger doesn't necessarily mean you'd like to retire like one. Take a few minutes and read the latest light-hearted article from our founder. https://www.linkedin.com/pulse/your-business-future-inner-flower-child-michael

Harvest Transition Solutions We are focused on equipping and empowering owners to build profitable, valuable, and "Leavable" busi

The Restaurant Revitalization Fund portal opens for registrations today. go to https://lnkd.in/guvE5ty to learn more

The Shuttered Venue Operators Grant portal will reopen to applications tomorrow - 4/24/21. For eligibility information; visit https://www.sba.gov/.../shuttered-venue-operators-grant

Join Michael this Thursday from 2-3:30 pst, as he's excited to be one of the presenters on Main Street Launch's "Business Finance 102 Series - Succession Planning". If you're in business, this 90 minutes will help get you on the path toward ensuring the successful intergenerational transfer of the wealth and legacy you're working so hard to build!

If your business is among the following:
-Live venue operators or promoters
-Theatrical producers
-Live performing arts organization operators
-Museum operators, zoos & aquariums meeting specific criteria
-Motion picture theater operators
-Talent representatives
You'll want to see if you're eligible to apply for this grant! go to https://www.svograntportal.sba.gov/s/ to learn more!

As a business owner, you faced your fears and took a risk - trading the security of building wealth for others...for the potential of building your own. Now it's time to face those fears again, and prepare to trade the security of the business (and identity) you've built...for the amazing future you've earned!

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50 Ways to Leave Your....Business? When someone is looking to buy a business...they're primarily buying one thing - its future earning potential, with the price they'll be willing to pay dependent on the perceived risk. Enter the 4C's - factors that can heavily influence the value that a seller will realize. The following article is a good illustration of the first "C" - Structural Capital. There has been a feeding frenzy as of late - aging artists converting their structural capital (Intellectual Property, Brand, systems/processes, etc - though here we're focused on the first 2) into financial capital; harvesting value from decades of musical material (IP) and their persona (brand recognition). Sometimes an outright sale of their catalog, sometimes just an interest in some portion of it; the design and terms of these transactions are as varied as the goals and objectives of the artists selling them. Though you may not have a #1 hit (or 10); it's still wise to ensure that your intellectual property is adequately protected and its value considered when preparing your business for an exit. https://www.nbcnews.com/pop-culture/music/paul-simon-sells-song-catalog-joining-trend-older-songwriters-n1262711

Paul Simon sells song catalog, joining trend of older songwriters The sale is the latest in a string of catalog deals that includes the music of Bob Dylan, Stevie Nicks, Neil Young and Carole Bayer Sager in the past year.

Two key assets of highly "leavable" businesses won't be found on their balance sheets - both their people and their culture. More specifically - the right people in the right seats in well-defined and communicated roles for which their knowledge, skills, and experience are well suited. Unfortunately, these three factors are often misunderstood and defined incorrectly, often leading to underutilization, underperformance, and even the loss of great team members simply because they were placed in the wrong roles; and also a lack of employee engagement, reduced productivity, and poor morale overall. As leaders, it's critical to attract great talent (the "who")...but not before first understanding the "what" and "how" of the opportunity(ies) to be filled. The following article does a great job clarifying the roles of knowledge, skills, and experience in developing job descriptions designed for success.

Council Post: The Differences Among Knowledge, Skills And Experience It is essential to consider them in job descriptions to define current and future expectations.

Can you guess what these 4 statistics have in common? You get to choose whether or not to be one of them. A great place to start is to develop a plan, communicate and gain buy-in to the plan, be accountable to the plan, review results of the plan, and make adjustments as conditions dictate.

Is your Biz "Leavable"? Take our short quiz to find out.
https://bizleavable.com/business-attractiveness

Is Your Biz "Leavable"?

Is your Biz "Leavable"?

Harvest Transition Solutions updated their website address.