Many small family businesses disregard nonqualified deferred compensation because these plans don’t provide a tax deduction until disbursement. But other family businesses are large enough to worry less about such tax matters and more about retaining key employees, especially nonfamily executives. Because qualified plans are limited in scope, many of these larger businesses use nonqualified plans to compensate and retain nonfamily executives.

The owners are children of the founder, and are taking over management since their father became severely disabled or passed away.  The Sisters, early in their careers, were not allowed or encouraged to work in the business by their father, and due to his problems, began trying to manage a business they have little knowledge of.  As Time went on, power plays between the sisters and their brother (who lived far away), resulted in loss of sales, employee theft & defection, and financial losses.  The new owners wanted to turn the business around with a management tea

A Nationally Ranked company is struggling to grow sales and profitability.  Over the prior years, management has gone through several COO's as high growth affected leadership.  The CEO is looking for help in mentoring his new COO so that the company can get back on track.  The Organization is in need of new IT systems, team systems, and new approaches, as well as growth strategies.  There are several family members working in the company, none working in senior management.

The Children of the Owners are at odds with their parents in what direction the company should go.  Sales have been fairly flat for the past few years, or the company is at a strategic crossroad, where critical decisions are needed.  The parents appear unreasonable, risk adverse, and unwilling to try new things.  The Owners are frustrated that the Next Generation has no appreciation for the knowledge and experience they have, and they feel the children have no understanding on making a profit.  The Children resent the parents meddling in business details, and are

A formerly profitable business has turned unprofitable due to competition and difficult market conditions. Margins are dropping, key employees have left, sales are down, and the vendors are wanting faster payment. The bank is concerned and wants more information faster. Some family and non family members are viewed as not bringing value to the firm anymore.

Business has been growing rapidly. The CEO's short temper is  caused by frustration with his management team, who are working very hard but not getting enough done.

CEO of family or privately held business is planning for retirement, but is concerned with how the business will be managed after he/she reduces time at the office.

Before I hired PTCFO, we tried a family business consultant that cost us a lot of money and things did not get better. We started looking for help as my youngest son quit because he hated the “B/S” we were all creating and said he would never return to the business. PTCFO came in, did an assessment, and then began to teach us how to work together better.

Over the next 10 years, over 50% of the privately held, family owned or ESOP  businesses will be changing ownership.

Are you one of them?

What is your Plan?

We are seasoned Management Advisors specializing in areas of: Strategic Planning, Mentoring &  Succession Planning, Corporate Governance Effectiveness & Board Formation Services,  Management Development, Retreats, Credit & Equity Financing, as well as provide Interim or Crisis Management services for Privately Held or Family Businesses  (including ESOP's & Non Profits).  PTCFO stands for "Professionalizing The Corporate & Family Organization" as well as "Part-Time Chief Financial Officer"  We are also authors, speaker