Perpetuating entrepreneurs and family businesses as vital contributors to the U.S. and global economy
The mission of russmichaletz,llc is to help perpetuate entrepreneurs and family businesses as vital contributors to the U.S. and global economy. While family businesses can be great at creating current success, they may not have the skills to understand how to make the difficult move of ownership from one generation to the next. Based on almost 40 years of experience working with family businesses as a CPA, Russ Michaletz has helped many family businesses see the way forward, see new paradigms for ownership, and correcting misunderstandings of stakeholders which are barriers to ownership succession.
“The problems all family businesses face tend to be the same, making it possible to learn from others’ past successes, and failures”
Working with Russ
ABout RUss
My inherent skill is to help others see their situation in a new paradigm. I am skilled in financial and structural visualization, but more importantly, can break down difficult concepts into information that can help build consensus in groups of owners. I thrive in creative process and connecting dots from needs to solutions. Ideation is my #1 strength.
The business I have formed in my semi-retirement, russmichaletz,llc. is based on almost 40 years of experience as a CPA, first with Arthur Andersen, LLP, and then Deloitte Tax, LLC. Upon retirement from active service as a tax partner serving family businesses, I have continued serving long standing and new clients with their generational planning for the future. In serving new clients, I have been influenced by what actually works for family businesses. I seek consensus and common ground for win-win solutions.
Partnerships
Most opportunities are referred to me by my existing contacts and former clients. However, we will work with quality organizations after mutual due diligence. However, russmichaletz,llc. does not have personnel with skills appropriate for some situations, such as: substance abuse, mental health issues, or severe family dysfunction. Since our mission is to help family business survive generational transfer, we may not be the correct choice where the primary business strategy is to maximize value in order to sell the business. However, that may be the outcome in any family business situation, and we understand and have experienced that as well.
SEtting A plan
Whether it is a move from first generation ownership to children, or third generation to fourth, the challenges seem unique to each situation. The number one question Russ has learned to address is "What do others in our situation do?" This information can be invaluable to family businesses as they struggle through the succession process.
FEE
Fees for this process will be negotiated based on the circumstance, primarily based on the number of key stakeholders and private interviews. Comfortable, but not extravagant, out of pocket travel expenses will be in addition. Many clients retain services past the project deliverable, at a modest quarterly rate, to insure continuing communication and proper implementation of report recommendations by their advisors.
Let's Connect.
To find out whether the services provided by russmichaletz,llc. maybe helpful to your long term business ownership planning, please leave your contact information and I will get back to you to arrange a conversation.