FAQs

Why did AKT form Business Transition Advisors (BTA)?
AKT recognized that many of our clients had a need for a trusted advisor to help them answer questions, address challenges, and plan for various business transition situations. Business Transition Advisors pulls together specialists from within AKT and external partners to deliver expertise as needed.

Does AKT BTA offer clients a standardized business transitions program?
The services provided by BTA are customized based on our clients’ situations, needs, and goals. AKT BTA does not use a boiler plate / one size fits all process. AKT has no collection of boiler plate documents that are used across all clients.

How do the services offered by BTA differ from those offered by an M&A advisory firm or investment bank?
AKT BTA offers more holistic advice and support earlier in the business transition planning process. In addition to long-range planning, AKT also partners with business brokers and investment bankers on tax strategy to support the execution of buy-side and sell-side transactions.

How could AKT BTA lead / coordinate a business transition plan for me?
Business transition planning often requires expertise from various disciplines – accounting, legal, financial planning, recruiting, executive coaching, estate planning … Sometimes addressing certain transition issues requires involvement from all these parties and other times only select resources need to be engaged. It’s difficult and time consuming for business owners to coordinate these disparate service providers. AKT BTA takes responsibility for leading your business transition team by engaging the right resources at the right time and working directly with all advisors involved in the process.

How does AKT BTA bill for their services?
Our billing is based on the client engagement. Examples of billing include hourly, project-based, or quarterly / yearly retainer fee.

What are some common mistakes business owners make when they try to handle business transitions situations themselves?

Lack of advanced planning leading to unnecessary pressures and fewer options
Unwillingness to address the tough questions and make the hard decisions
Being impatient or indecisive
Informing employees, vendors, and customers at the wrong time
Don’t formulate a sound strategy for retaining key employees
Not taking the steps necessary to make the business look less like a family / lifestyle business
Employment agreements not in place
Overlooking potential acquirers or acquisition targets
Losing the trust of a potential buyer
Not taking into account the buyer’s perspective when preparing the company for sale or marketing the company
Not cleaning-up the financial statements
Overlooking tax consequences
Inadvertent assumption of liabilities

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