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7) CK Global Solutions: Helping solve the problems of change | Signals Magazine
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An article on transition planning for a family business featured in Signals Magazine - July 26, 2010 Written by Erin Mussolum
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Owning your own business starts with an exciting dream. Thoughts often turn to building a legacy - a financial foundation that can be passed on from generation to generation. But at some point circumstances change and when it comes time to sell or transfer a business, owners can often face an overwhelming, complex and surprisingly emotional process.
When the family-run Kalawsky Auto Group decided it was time to amalgamate their dealerships the idea was more than a little daunting. Traditional services included finding a broker, a lawyer, and personally trying to navigate the gauntlet of succession planning themselves.
Thankfully Craig Kalawsky and family were referred to Chris Kassardjian of CK Global Solutions. The Canadian firm headquartered in Vancouver BC, provides consulting services to private small and medium sized enterprises. Under Kassardjian’s leadership, the company supplies expertise in the areas of business training, merger and acquisition advisory services, strategic planning and business coaching, marketing research and product development, and succession planning – something that was greatly needed by the Kalawsky’s.
“I started CK Global Solutions because I believe that our hands-on experience with our own businesses gives us a unique understanding of the dynamics and emotions surrounding business owners,” says Kassardjian. “We really enjoy helping other private businesses succeed and building strong relationships with owners.”
Kassardjian came alongside the Kalawsky’s and helped them not only come up with a solid plan for amalgamating the family businesses, but also took the time to listen to each family member, incorporating their own personal and financial goals into the overall plan.
“It’s complex when dealing with family. There are a lot of feelings and emotions, and with Chris there it helped us identify them in a professional way,” says Kalawsky. “He helped us respect everyone’s feelings and kept us focused on the task at hand. He made you think of things you might not have thought of before and it can be difficult to push ahead when you don’t all agree.”
Kassardjian strongly believes that moving toward the sale or transition of a company should be approached with the same intensity and proper planning as the initial purchase of the business. He suggests that too often tired and stressed owners do not consider all of the factors when transitioning out of their business.
He says, “There are many options available for exiting a company, both financial and strategic. Business owners often do not have the time or the knowledge to properly assess all of their options in order to choose the right one. Most businesses are not prepared to transition at their peak value, nor have many owners considered how to minimize tax implications. Simply put, we seek solutions in our client’s best interest so they harvest the best financial and emotional results when transitioning their company.”
Looking to the future Kassardjian believes there will be many businesses changing hands, and suggests that with baby boomers retiring $10 trillion in assets will change hands in the next 15 years. “It is ideal to start exit strategy planning in the early stages well before it is actually implemented and this is where CK Global Solutions can really help,” he says.
Kalawsky couldn’t agree more. “It’s a long process and it’s almost been two years. You should definitely have someone help with it. It’s complex, and having someone else involved helps bring order and respect, and makes it a positive experience overall,” says Kalawsky. “I understand my family a lot more – what their goals are and that is very positive for me. We are now unified and having this succession plan will help the business grow for the next 20-25 years, and with a bright future for the Kalawsky Auto Group.”
Kassardjian is proud of his firm’s response and happy that the support was felt on behalf of the Kalawsky family. “Most firms or brokers don’t approach the situation from a whole perspective. We at CK Global Solutions do…and we focus on people first.”
