Hancock Financial LLC

Business Advising & Planning

If you are an experienced business owner, you most likely know the internal operations of your business from the inside out while having also acquired significant industry knowledge along the way.

So what value does working with a Business Advisor & Planner at Hancock Financial provide to you & your business?

Starting on day one, your Business Advisor & Planner will function as a very experienced business partner without taking an ownership interest in your company or asking for a share of the company’s profits.

They will fully dedicate themselves to understanding & studying the dynamics of your particular business across all functional areas to overcome known and unknown challenges, open up unforeseen opportunities, and help make better decisions that will continually create long-term business value.

They will coordinate all the stakeholders of your business and your existing advisory team to ensure everyone inside & outside of your organization is moving in unison towards achieving your long-term goals.

Just imagine how much better your business would be if you had an experienced business partner staying focused on the road ahead so you could consistently concentrate on your business.

We take great pride in working across many different industries and our level of commitment to each and every client does not change regardless of the size or complexity of their organization.

Growth & Transition Planning

Regardless of the transition(s) you may be facing, the Business Advisors & Planners at Hancock Financial will develop a tailored transition plan around your goals that achieves a high level of success.

Whether you want to scale up or down, change product lines, add or close locations, expand into new markets, or transition your business in other ways, we have the experience and skills to help you successfully accomplish your transition without stress or worry.

Leveraging our expertise, experience, and guidance will allow you to maintain confidence through even the toughest transitional periods.

Human Resources Advising & Planning

Would you like to consistently recruit & retain the right long-term candidates? Are you struggling to find team members who possess the right mix of skills and experience you need? Does the local or regional workforce not seem conducive to your employment needs?

Not only can our Business Advisors & Planners find the right long-term team members who possess the skills and experience needed to help your business be more successful. They can also help improve your existing workforce improve their performance, remedy employee relations issues, and address HR compliance issues.

Full Cycle Recruiting

• Position Planning
• Job Posting
• Applicant Screening
• Interviewing
• Onboarding

Employee Relations

• Conflict Mediation
• Investigations
• Grievance Management
• Performance Management

HR Compliance

• Fair Hiring Practices
• Employment Forms
• Record Keeping
• Discrimination
• Harassment
• FMLA
• EEOC
• OSHA
• COBRA

Business Appraisal/Valuation

Most business owners either do not know the value of their business or incorrectly guess as to what the value might be. The most common mistakes are using industry rules of thumb to imply a value or assuming the sales price of another business in the same industry is a good indication of value.

Not only are these simplistic guesses at value almost always incorrect, but they very frequently lead to misguided business decisions which either decrease or prevent business value from being created.

Acquiring a true business appraisal (aka, business valuation) is the best way to determine the true value of your business and how to increase its value. Why?

A true business appraisal is different than other appraisals you may have previously acquired. Often people get real estate, antiques, jewelry, inventions, etc. appraised so they can have a professional third-party opinion as to the value of a particular item. A business appraisal also provides a professional third-party opinion of value but also serves as a guidance document as to how to create greater long-term business value both internally & externally.

The following are just a few ways true business appraisals can guide greater long-term business value:

1. By placing a constant frame around daily business decisions and future projections which consistently steers businesses in creating long-term business value.
2. Provides an objective & professional review of the company which often produces many valuable insights and ideas as to how business value can be increased internally & externally.
3. Allows for better negotiations with suppliers, vendors, employees, lenders, investors, & business partners.
4. Improves succession planning, exit planning, & estate planning and prevents unexpected problems when transferring ownership interest (Connelly v. IRS).

Also, please do not be fooled into thinking you are receiving a true quality business appraisal by inserting information into an automated business valuation web site or having a business broker or tax advisor complete a quick value calculation. At best these sources will only provide a narrower ballpark guess.

If you want, or need, to know the value of your business let our credentialed and experienced business appraisers assist you in determining the value of your business so you can start realizing greater business value today.

Succession & Exit Planning

Ownership of a small business can become one of, if not the most, valuable financial assets you possess. When you develop a succession plan or an exit plan you have one chance to get it right. You can always change things later on, but you cannot rewind time and there are no do overs!

Regardless of the size of your business there are many factors to consider well in advance of your succession or exit from it. This is why it is so critical for business owners to start the planning process early and to consistently monitor developments along the way. Being prepared for how and when you depart from business ownership is crucial to getting it right the first time.

Far too many times we have seen business owners significantly reduce the value of their businesses by failing to plan their departure from ownership until they are ready to walk out the door for the last time.

Whether you want to exit your business later this year, next year, or sometime in the next 3 – 7 years, let the Business Advisors & Planners at Hancock Financial help you plan & coordinate your eventual departure. We can substantially increase the value of your business and help you preserve much of that value as personal wealth.

Business Brokerage Services

Many people try to sell or purchase businesses on their own instead of utilizing the services of a professional business broker for one of the following reasons:

1.) They feel the knowledge they possess about a particular business and the respective industry it operates within is all that is needed to purchase or sell the business entity.

2.) They do not want to pay for the services of a business broker if they do not have to.

3) They do not of a professional business broker they can trust, and they do not want to take the chance of trusting the wrong person.

When you want to sell or purchase a business it may, or may not, be in your best interest to utilize the services of a professional business broker. We can help you determine whether you would truly benefit from the services of a professional business broker or whether alternative methods are more suitable for your particular situation.

If you would truly benefit from utilizing a business broker, we are licensed, experienced, and credentialed business brokers that can help you purchase or sell a business while guiding you through the process with trust and understanding.