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If as an owner, you donāt like the idea of your companyās culture and purpose changing after you sell the business, youāre not alone. This is what prompted Dave Mazanowski, founder of Mainscape, based in Fishers, Indiana, to establish a purpose trust to sustain the companyās mission and vision in perpetuity. āWhen you’re with […]
When landscape company owners begin considering their exit strategy, it often comes down to a choice between passing the business on to family members/key employees or selling to private equity. But what if there was a third door? This was the option Mainscapeās founder, Dave Mazanowski, ultimately ended up taking. The company has recently begun a […]
When it comes to exit plans, ESOPs are often overlooked. Yet Larry Ryan, founder and chairman of Ryan Lawn & Tree, made the bold decision to sell the company to his employees just 11 years after its founding. He wanted to grow the business to $100 million by 2030 by creating a team of long-term, […]
In a perfect world, youāll be able to decide exactly when you want to exit the business, and your team will be well prepared for this change. However, life rarely goes according to plan, which is why you need to develop your strategy for succession early on. Chris Psencik, partner and vice president of […]
Succession planning goes beyond ownership. Team members get sick. Employees can leave for various reasons and when you donāt have contingency plans in place, it can be a serious setback for your company. āLosing a branch manager, department head, or operations leader can have just as significant an impact on day-to-day operations and team morale,ā […]
Succession planning isnāt something you should only start considering when you get closer to retirement age. This is a future-focused practice of identifying the knowledge and skills needed to perform in certain roles and preparing multiple individuals to potentially carry out those functions. Succession planning also isnāt just about who is going to take on […]
