We frequently advise the owners of small businesses as they begin to think about the day they will step away. For some, the primary objective is to cash out the business as quickly as possible for as much money as possible. For many, however, the business is their “baby”. They have built and nurtured it over decades. They have long-standing relationships with clients and customers. They have long-time employees and are concerned for their well-being. For these owners, money is a consideration, but not the only consideration. They are also deeply invested in a continuity of culture for their company.
For owners in this category, it is critical to find not just a buyer, but the right buyer. In fact, if continuity is important to them, then choosing the buyer is the most critical decision they will make. Anyone can write a check. But who is going to love their baby?
Similarly, parents of children with a Serious Mental Illness won’t be around forever. When it comes to thinking through the continuity of care for their child, they typically fall into two camps. Some are, for whatever reason, content to simply let whatever happens to happen. But many others have invested decades in their child. They have grown and nurtured a scaffolding of care around their child that includes healthcare, employment, benefits, residency, spirituality, relationships, and much more. These parents are greatly invested in continuity of care – maintaining the scaffolding, so to speak.
For these parents, the most critical decision they can make is to thoughtfully and intentionally choose an Advocate for their child. It’s not so much having a person who can step in, rather having the right person or people to provide a continuity of care for the child.
After all, anyone can write a check. But who is going to love your baby?
Securities and Advisory services offered through LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC. For informational purposes only. Integrated Financial Group and LPL Financial do not provide legal advice or services.