Consulting Services
The goal of Dick Yemm through First Asset Consultants is to help small businesses, both family owned and those with multiple owners, develop precise action plans that guide a company and its owner(s) through times of crisis and change. His planning goes beyond typical estate planning done by attorneys and tax advisor by focusing on how to keep a successful company operating. 
He does not tell you how to run your company. You are the expert! His objective is to capture what has made your company successful, separating you from your competitors.
Dick Yemm is a licensed Certified Financial Planner™. He works with companies and their owners worldwide using his experience as a business owner of multi-million dollar small companies and unique insights gained from helping other business owners. He knows what it is to take a business from a concept, through agonizing growth pains, to its being successful.
His book, The Stories, part of the series, Tomorrow — Your Business Without You, is a 2009 Axiom Business Book Award winner in the Retirement Planning category. Articles by Dick have been subscribed to by over seventy magazines. He speaks frequently on the subject of business contingency succession planning for owners and action planning by their spouses with emphasis on business continuity.
Dick Yemm's planning process incorporates 8 distinct steps. They are:
Step One: Initial Contact
A "getting to know you" ice breaker typically lasting fifteen to thirty minutes usually done by phone that can also be done in person or by mail. This is a brief discussion exchanging information about each other to determine if we can help you. We want to know about your need for consulting, the objectives of the planning and a description of the company, primary owner(s) and current management. In return we will tell you about Dick Yemm and how First Asset Consulting works with clients. A mutual decision is then made as to whether or not First Asset Consultants can benefit the client. No fee is charged for this time.
Step Two: Letter of Engagement
Once agreement is reached to initiate the consulting service, a letter of engagement outlining the scope of service is sent to the client. Attached as part of the letter are: a
- Confidential Business Survey
- Confidential Agreement
- Request of specific information and relevant documents
- Description of Consulting Service Process
Step Three: General Information Gathering
This is a critical step as it forms the basis for building a plan. Completion of the Confidential Business Survey will tell us about the company and its owners. Written specific issues and objectives to be addressed are noted here.
Step Four: Review of Gathered Data
This is an initial review and assessment of gathered information. It establishes the relationship of owners and management. The use of extensive data prepares Dick Yemm for the personal interview saving time and expense.
Step Five: Personal Interview
This is a necessity that is conducted in person. Owners express their keys to success and the direction they desire the company to go in their absence. This is a valuable tool as important parts critical to protecting a business' continued success are discovered. Owners together with Dick Yemm discuss solutions for solving their objectives.
Step Six: Summary and Action Plan
A written summary utilizing all data is collectively analyzed and organized. A transition process begins with an action plan delegating specific responsibilities. Included are contingency and succession forms containing confidential information that can be valuable aids to a successor called upon for immediate intervention. Because these forms will contain confidential information, it is suggested they be placed in a secure place. We are available to answer questions either by phone or email about our recommendations.
Step Seven: Implementation
The success of the program relies heavily on a strong commitment and willingness by the client to learn and implement the recommendations. There are no guarantees, either implied or written, as to the outcome of the plan. You are assured that only the highest standards with regard to experience, expertise and ethics will be upheld.
Step Eight: Closure
We use the term 'closure' rather than "termination" of the contract because circumstances change over time that may require a new and different solution. Our goal is to protect the survival of your business and assist you personally as needed.
Fees:
Fees are normally charged on an hourly basis. Costs depend on necessary consulting and support time, site locations and per diem if required. An estimate based on defined objectives is provided. Occasionally, complex issues are unveiled that require additional time that will exceed that quoted in the estimate. Time required to solve these issues will not exceed a maximum cost established by the client without written permission by the client. A retainer and minimum fee of $ 1,000 is required.
Most importantly, one must remember that there is more than one good way to pass on a business. But only one way is guaranteed to fail—doing nothing.
Contact Dick Yemm today to start your plan of action.
|
