Alarm Business Succession Planning: Our Top Tip for Planning for the Future

Two people pouring over succession planning paperwork

You’ve spent your life building your alarm business into a successful, profitable company you can be proud of. Now, on the not-so-distant horizon, the time to sell is looming.

Whether you’re preparing to exit the industry and retire after years of hard work or you’re moving on to explore other business opportunities, the time to pass the baton to your successor is getting ever closer. If you’re like many alarm business owners, there is a good chance you don’t yet have a specific succession plan in place. You have an idea of how you’d like to exit your organization, but the pieces are not yet in place to make it happen. And you’re not quite sure how to turn the plan you’ve envisioned into a reality.

So how do you go about implementing an alarm business succession plan? What’s the key to alarm company succession planning?

The Key to Successful Alarm Business Succession Planning

While there are many ways to go about exiting your company and numerous ways to go about planning for succession, there is one key component that will help to ensure your alarm company succession plan is devised, implemented, and executed successfully. What is that key component? An experienced, knowledgeable succession planning advisor with experience in the alarm industry.

The Benefits of Working With an Alarm Business Succession Planning Advisor

Wondering how a succession planning advisor can help you? There are a number of reasons why assistance, advice and insight from someone experienced in succession planning in the alarm industry can make a huge difference when it comes to implementing a successful succession plan for your alarm business.

What exactly do these advisors have to offer?

An Objective Perspective

There is a lot to think about when it comes to selling your alarm company. When you’re incredibly invested in your organization and involved in its day-to-day operations, it may be difficult for you to think objectively or outside the box about possible succession options. An advisor can bring along a welcome objective perspective that may help you to explore succession plan options you may not have thought of otherwise.

Industry Insight

An advisor familiar with the security alarm industry will bring an immense amount of industry insight to your succession planning efforts. From knowing how to position your company for succession ahead of time to understanding the best time to set the plan into action, this insight can prove to be incredibly valuable.

Knowledge-Based Advice

Experienced advisors have gained an immense amount of knowledge from handling previous alarm business succession plans. This knowledge about what worked (and what didn’t work) for clients in the past can benefit you greatly when it comes to creating and implementing a succession plan for your business.  

Strategy Suggestions

Whether you have a vision in your head for the future of your business once you’ve stepped down from the helm or you have no idea where to begin with succession planning, an advisor can provide you with the guidance and strategy suggestions you need to set you on the right track. These recommendations can help you to ensure that you do what’s ultimately best for you and your alarm business.

Successful Alarm Business Succession Planning

Having an effective succession plan in place is one of the best ways to prepare your company for the future. Enlisting the help of an experienced, trusted advisor can help you to be sure you’ve set your company on the right track even after you’ve moved on.

Interested in learning more about alarm business succession planning? Getting ready to exit the industry, but not sure where to turn? Contact Rory Russell at Acquisition & Funding Services today. With decades of experience in the alarm industry, Rory is a valuable resource when it comes to alarm business succession planning.

Give him a call at (800) 354-3863 (Rory’s personal cell) or complete this easy online contact form to get the conversation started today.

Wondering when and if you should sell your alarm business? Check out Rory’s free, informative eBook – To Sell Or Not To Sell, for insight and advice that will point you in the right direction.