Frank Evans has spent the last 25 years working with entrepreneurs to identify and achieve their ownership goals. These goals are often financial, but most likely also include non-financial objectives, such as a desire to continue to work in the company after a sale, bring children or others into the business or sell to a buyer who will respect their culture and values. Whether owners are looking to build, protect or harvest their private company wealth, EA’s solutions begin by identifying the owner’s needs and goals. We explore why you own your company and what you want to accomplish both short and long term. We look at your company as an investment because it is typically your largest, riskiest and most illiquid investment. Then armed with this knowledge, we assist you to devise a strategy to meet your various goals.
Timing can be critical for private company investment success. While anyone could sell their IBM or Walmart stock immediately, most private company investments are not ready to be sold and market conditions may not be ideal for a sale at a desired date. So advance planning—years in advance—should occur to allow for the possibility that weak profits or a bad economy could delay a sale or make it opportune to sell earlier than expected.
Personal versus business goals can be divisive factors, particularly in a family business where ownership is split among generations or siblings. These situations often involve people who have different capabilities, ambitions and investment goals. Owners must determine if the business will be run like a business or like a family. Sound family business decisions require both comprehensive information about company performance and value and a governance process that enables mutually satisfactory solutions where different goals or conflicts exist.
Owners will tend to make sound decisions when they are well informed about what their investment is worth, its risk, what affects its value and their ownership options. EA exists to provide this information in a consultative process that enables owners to identify their goals and the strategic, financial and personal issues they must address, and the consequences of action versus inaction.
EA’s work product is provided through face to face or telephone consultation along with research and financial and valuation analysis as required. Feedback to clients is provided verbally and in writing, often supported by detailed financial analysis. We charge for our services on an hourly or flat fee basis and this may include a retainer and success fee. Because EA’s services are provided primarily by Frank Evans, we may also refer clients to other firms that bring specialized skills depending on the client’s needs. Most often, these include investment banking, valuation, general consulting, accounting, tax or legal services.