PTCFO, Inc

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Description

Family businesses may not always need to issue formal financial statements. Absent the need to report to others, you can probably get by with simple flash reports and cash flow projections. But if your family business’s associates include outside shareholders and lenders, you may need to generate complex financial statements with footnotes and detailed disclosure remarks. When financial statements are necessary, you must have them prepared in accordance with generally accepted accounting principals. However, you may choose among several levels of complexity, detail and verification.

We provide reasonably priced assessments that cover the areas of the balanced score card (innovation, organizational agility, customer satisfaction, economic performance, and the company's learning culture). Our effort is to provide 360 degree perspectives and insight surveys that relate to 30 areas of the management process. Our surveys involve managers, employees, customers, and other stakeholder such as vendors. The results are statistically quantified, measured against the firm's competition and can be benchmarked for future surveys. For a sample assessment, refer to our Test Drives page .

We assess the organization on either 119 or 270 issues, using our assessment approach. With that assessment comes a series of recommendations for the family to decide on. Every family is different, therefore we customize our approach towards each family's needs. We then recommend a two to three day retreat, to identify the top problems, and to develop action plans to solve them. This allows managers and family to develop skills and competencies to become the future leaders of the company.

We assess the organization on either 119 or 325 issues, using our assessment approach. With that assessment comes a series of action plans and recommendations for the practice to implement. Every practice is different, therefore we customize our approach toward each firm's needs. If the partnership has conflicts or issues, we will address them separately from the firm's issues using facilitation and governance initiatives. We provide advisory services to professional firms on succession, growth strategy, mentoring the next generation, dealing with crisis or sudden death issues.

We know that no privately held, or family business is the same. We help tailor our approaches to each business, and apply common sense to the development of the next generation of managers and leaders. No family owned business is the same. While some companies have family members in the business, others do not. So what are the choices? Our approach is to develop choices to choose from while increasing the value of the company that leads to a successful economic transition from one owner to another. We are results oriented, with deadlines and milestones.

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