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Maximizing Business Value: It Takes A Village

By: Scott Van Den Berg, CFP®, ChFC®, CEPA®, AIF®, CRPS®, CMFC®,  AWMA®

With a lifelong education and passion for financial services, I've devoted my career to helping high-income-earning business owners, executives, and families navigate the complex world of wealth.

One lesson that I have learned throughout my years in the industry is that maximizing the value of a business is not a solo endeavor. Indeed, it takes more than a financial advisor to truly unlock a company's potential. Diverse experts in various fields are needed to ensure a comprehensive, well-rounded approach to business growth and sustainability.

A Symphony of Specializations

Imagine your business as a symphony orchestra. In the orchestra, each musician plays a different instrument, and while each instrument produces beautiful music on its own, the true magic happens when they all play together in harmony.

Let's meet some of the instrumentalists in our orchestra of business success:

Financial Advisor – The Conductor

As a Certified Financial Planner™ (CFP®) and Certified Exit Planning Advisor® (CEPA®), I've found that the role of a financial advisor is akin to a conductor. We set the tempo and provide overall direction. Our job involves setting up and managing retirement plans, maximizing income generation, structuring investment portfolios for long-term growth, and employing tax reduction strategies. However, we must work in harmony with other experts to create a resonant, beautiful symphony of success.

Tax Experts – The String Section

Tax experts, like the string section of an orchestra, provide the foundation of our ensemble. Their role is critical in ensuring that the business optimizes its tax liabilities while remaining compliant with the laws. They can identify deductions, credits, and strategies to minimize taxes, thereby enhancing cash flow and overall profitability.

Legal Counsel – The Woodwinds

The role of legal counsel in business is to foresee and navigate potential legal challenges, much like the woodwind section in an orchestra adds depth and color to the music. Legal professionals ensure that your business is adequately protected and operating within the law. They handle contracts, intellectual property issues, and any legal disputes that may arise.

Management Consultants – The Brass

Management consultants, the brass section of our business orchestra, add power and emphasis. They assess the company's operations and provide recommendations for improvement. They can introduce new strategies, assist in transitions, and help align business operations with overall goals.

Human Resources – The Percussion

Human Resources (HR) play the role of the percussion in our symphony, providing the rhythm that keeps everything moving in time. HR ensures that the company is staffed with qualified, motivated individuals. They handle matters related to recruitment, retention, compensation, benefits, and compliance with labor laws.

Creating Harmonious Business Success

Each expert plays a crucial role in maximizing the value of a business. Like a well-conducted symphony, when all these areas are managed effectively and in concert, a business can thrive and achieve its full potential. The interplay between financial, tax, legal, management, and human resources can lead to a successful, harmonious business operation, where every aspect is considered, every opportunity seized, and every risk managed.

Remember, we at Century Management understand small businesses because we are one. Our commitment to making a positive impact, ensuring objectivity, maintaining integrity, and upholding the Golden Rule guides us in our mission to help you succeed.

Whether you're just starting out or looking to take your business to the next level, remember: success is a team sport. It's not enough to have a financial advisor; you need a team of experts working in harmony to truly maximize your business's potential.

To learn more about how Century Management can support your business, wealth management and retirement planning needs, visit us at Centman.com.

Century Management ("CM") is an independently registered investment adviser with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Century Management is also registered as a Portfolio Manager in the Province of Ontario. Forward-looking statements are not guaranteed. Past performance is not indicative of future results. The discussions and viewpoints featured are not intended to be investment advice. A full description of our Firm’s business practices, including our Firm’s investment management services, wealth plans and advisory fees, are supplied in our Form ADV Part 2A and/or Form CRS, which are available upon request or at www.centman.com. CM-2023-05-30