Part 25: Exit Planning

by | Dec 20, 2021

By: Brian Ragan, Senior Strategic Management Consulting Services

The following is part 25 of a multi-part series on The KHA Way, KHA Management Consulting’s Integrated Service Offering. This blog series includes the benefits of using KHA Management Consulting Services and the components included.

In our previous post, we discussed three different types of meetings that should occur throughout the year to ensure your organization completes its various strategic initiatives. Here, we will discuss keeping your organization’s end in mind and what that may look like in regard to exit and succession planning.

At some point, whether soon, or years down the line, it will be time for key members of your team to retire. Through KHA Management Consultants’ continual success regimen, you will continuously be identifying new leaders within your organization, making them more and more accountable over time, and finally preparing them to take the reins when the time comes.

Furthermore, through following our continual success plan, you will also be given the opportunity to track improvements in your firm’s value overtime. KHA Management Consultants assists here by performing either a quality of earnings analysis, normalizations of earnings analysis, or both depending on your unique situation. Once your firm’s relative value is assessed, we will be able to focus your firm’s strategic actions on those that will increase its value over time, thus priming it for a potential sale.

Whether you hope to leave your organization when you retire, or hope to sell in the near future, KHA Management Consultants is here to help you along the way to build an organization you can be proud of, for whatever comes next.

At KHA Management Consultants, we work with mid-market industry leaders to identify what makes the organization, its stakeholders, and its’ employees tick. We facilitate Process Alignment with your organization’s key constituents to ensure buy-in, ownership, and a new way of thinking about the organization and its stakeholders amongst all levels. From a resource perspective, we primarily use our unmatched experience but also tap into the top-level resources such as those made available by Harvard Business Review, relevant strategic management authors, and MentorPlus. Some of those materials, frameworks, and lessons have been used in authoring this series.

KHA Management Consultants, the consulting department of KHA Accountants, PLLC, based in Flower Mound, Texas, is always looking for opportunities to work with key clients ready to take their organization to the next level. If you have a desire to improve, take the first step toward success with the strategic management experts, and contact us at 972-221-2500.

Five Steps to Recognizing Revenue in Financials

The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the standards and how to properly recognize revenue for your company.

Is your managed service provider as secure as you think?

As attack methods become more sophisticated and widespread, no organization is immune to suffering a cybersecurity breach. The key to protecting your business is developing controls to make you less of a target and limit potential damage, as well as implementing a comprehensive strategy to react if you fall victim to an attack.