IDENTIFY GOALS
- Determine your succession timeline
- Understand your business value
- Perform a formal retirement needs analysis
- Consider your preferred succession/transition path:
- Transfer to insiders
- Sale to 3rd party
- Become an investor/owner
- Other
EVALUATE
- Identify the GAP between your retirement income needs and the amount of income produced by your business and non-business assets
- Align your non-business assets with your succession and succession objectives
- Analyze the health of your business:
- Management team performance
- Financial performance
- Operational performance
DESIGN
- A customized Roadmap that outlines your objectives and provides strategies and tactics
- Examines various “What-if” scenarios
- Focuses on your primary and a secondary plan
- All of the above in collaboration with your existing Advisor Team
IMPLEMENT
- Coordinate the efforts of your Advisor Team to:
- Structure new documents
- Structure new financing
- Improve business performance
- Reduce risk
- Focus on building value
- Consider funding solutions
- Implement the solutions and arrange the steps necessary to fulfill your objectives
MONITOR
- Provide accountability to meet your objectives:
- Peer to Peer Advisory Boards
- One on One Coaching
- Implementation Assistance
- Update your plan as appropriate
Legacy Business Advisors Mid-Atlantic offers confidential executive and management services to small and mid-sized businesses, entrepreneurs, and local/state leaders.
Our goal is to empower closely held business owners with the necessary tools to build, grow, and transition successful businesses. With a team of experienced advisors and a vast national network, we cater to a diverse client base, providing personalized solutions that align with their unique needs.
Contact us today to learn how we can help you innovate and succeed in your business endeavors.
Our Advisors
Our advisors are leaders in the business planning and financial services industry and are eager to apply their unique experience and expertise on behalf of the clients they serve.
Our advisors have a shared commitment to offering solutions to business owners who are seeking assistance with determining a plan for the next phase in their company’s existence.
What Our Clients Say
Five years ago, we were developing an exit strategy to retire or move on to other things. Dave Stephens name came up as a person that could help both with an exit strategy and financial planning. He would help put together a 5-year buy-out plan.
Two of our long-term employees had expressed interest and Dave put together a program for the employees to raise capital. Dave followed up weekly both with the employees and us. After several years it became evident that while the initial strategy was sound the people were the wrong fit to assume ownership. Instead, Dave helped me buy out my partner in September of 2022.
He is now with us working on management development, recruiting, and process and procedures. We are more efficient today as a result. The next plan is building value and preparing for my exit in the next 2 to 3 years.
Dave has been helpful, engaged, and willing to jump in whenever needed. I would recommend Dave if you were looking for someone to help you with structure, growth and preparing for sale.
We are a Small Business General Contractor specializing in construction / renovation projects primarily with the Federal Government. Tuskegee Contracting was established in 2010 and by 2018, we had grown to a point where I wanted to give our employees something to help plan for retirement. So, I decided to establish a 401 k Program.David Stephens with Legacy Business Advisors was recommended and he has been the financial advisory for Tuskegee Contracting’s 401 k Plan since 2018. The program was available to over 20 employees and David provided personal finance advice to those who participated. David also assisted me with business financial planning and helped me establish an Exit Strategy for the future.
He is very knowledgeable & experienced and I would highly recommend him to anyone looking to improve their business or personal financial position.
I’d like to present this letter of recommendation along with my personal and professional experiences with David for the past 15 years. We’ve collaborated on several major accomplishments throughout the years including the daunting tasks of securing income for myself post-retirement, exploring different tax-incentive plans through captive insurance, and most notably, a deferred compensation plan for our key executives that ensures the future growth of our companies.
David has been a sounding-board for major decisions which included new legal counsel, tax accountants, and a directional-shift in our business markets from a small to large business. He’s honest, punctual, and will work in a manner that makes it hard to distinguish him from your key executives.
If he doesn’t have the answer, he will get it with his access to a large network of professionals in the Hampton Roads area.
In early 2023, I reached out to Dave Stephens to inquire about business consulting services and a business valuation for my small business. Dave was immediately responsive and agreed to meet regarding my business needs. Although a business valuation was my initial reason for contact, I committed to a 12-week business consulting agreement with Dave.
Over the 12-week period, Dave guided me through the Value Builder program to better understand my business value, address my weak areas, and leverage my business strengths. Additionally, I was able to create a long-term plan for my “exit strategy” with Dave’s guidance and input.
I would highly recommend Dave Stephens to anyone who is looking for guidance as a business owner. His experience and knowledge have vastly changed the way I look at my business and my goals for the future.
Buck and Dave were referred to us at a time we were looking for business and retirement advice.
They did an extensive evaluation of our business and located multiple problems that were affecting our business worth. They made recommendations based on their expertise and experience of what we needed to do to improve the company both financially and to run more efficiently.
They are exceptional people, hardworking and very knowledgeable about businesses and how they should be managed for success. They are both of good moral character – honest, loyal, trustworthy, and thoughtful.
In closing, Dave and Buck are men of integrity. They will work hard for what is best for their clients. They don’t drag their feet on any task that they are given, whether it’s doing what they have been hired to do or following up with outside service providers. One of the greatest benefits was that they held us accountable to doing what we said we were going to do.
I have known and worked with Dave Stephens for 20 years. Dave has shown tremendous talent and ability to provide guidance to help further my business. Dave has helped grow my business by 4X, taking my revenue to over $2,000,000.
Dave is an extremely honest person and will let you know, up front if a product or service is not what is needed. He has had shown me time and time again how valuable he is. He is very well connected and knows just about everyone who can help grow your business.
He can help increase sales and use his sales experience to train sales staff and sales managers.
I highly recommend Dave to all my clients and friends who own businesses. He is steadfast in his desire to help others achieve the goals that they wish to achieve.
Strategic Alliances
Our process is enhanced by industry-leading tools and assessments. We have strategic relationships with service providers who help us deliver on the promises we make to our clients. Our advisors across the country keep us on the leading edge of new techniques which are quickly adopted thanks to the help of these organizations.
BizEquity is the world’s only patented and the largest provider of business valuations, having valued 33,389,942 private businesses globally.
BEI helps business advisors worldwide create and deliver tens of thousands of planning solutions to business owners.
Legacy Advisors Network exists to provide timely and valuable resources to business owners and their advisors that inform business owners of the value of their business and help them identify and select the best option to realize that value as they complete their transition into the next chapter of their lives.