Clients

What kinds of businesses and families should retain The Development Group?
Families needing assistance to resolve sensitive internal conflicts and guidance in building consensus; families and businesses confronting leadership transition; those that are considering the sale of a business or real estate or a part interest in either or facing a financial crisis.

Why would a client hire The Development Group rather than a very large national consulting firm?
We are professionals who get intensely involved with our clients personally and without the use of junior associates. We provide diplomatic assistance in resolving internal conflicts because we always work to develop consensus on key issues. Since each of us has extensive real world experience, we are also very sensitive to the needs of families and nonpublic companies.

How do you assist clients in realizing value?
Creating a strategy to achieve value is an art not a science so it always begins with an assessment of what our client wants to achieve and why. That understanding guides all of our subsequent work to create a specific strategy to realize value. We have developed a diagnostic tool and process checklist to guide us and you in our joint effort.

How much annual revenue or asset base must a business or family have to qualify for your services?
There is no set amount because we look at each potential relationship on its own merits. For example, we sometimes work with nonprofit organizations and associations where size and revenue are not necessarily relevant. However, in the normal "for-profit" environment we would generally see revenues and/or asset values of approximately $25 million or more.

Who is normally your client – the business, the board of directors, a shareholder or shareholder group or an individual owner?
There is no hard and fast rule. Sometimes, we represent the company itself, but we have also represented the Board of Directors, individual shareholder/owners, shareholder groups, financial institutions or the CEO. It is, however, important that there be clarity regarding exactly who we represent within the organization.

My family is very dysfunctional and difficult. Can you still deal with them and be effective?
Yes. There is not much we have not seen or dealt with in family client situations.

Do you restrict yourself to any types of businesses?
No. Because our expertise is in process rather than in any specific industry we find that we work well with virtually all business models.

Why do you list real estate as an area of your practice?
Our clients often own a significant real estate asset in the family or closely held business. This asset is frequently under-performing and often can provide a significant liquidity vehicle for the family or business.

Do you advise clients who are in financial trouble or in bankruptcy?
Yes, our Principals have extensive experience working with such clients.

Do you perform traditional "workout" services?
Yes. These services are described in the Services page under Serious Financial Crisis.

Will you advise a public or non-family business?
Yes, while we concentrate on nonpublic companies our Principals have significant expertise in public company matters.

Will your Principals take interim managerial positions with a client company?
If requested, we are prepared to play this role though it does not happen often.

Fees, Methods and Principals

If I retained you, how would you begin your services and how long would the process take?
The process begins with a consultation to see if we can "help". If we can, we will make a proposal for a first project which typically takes from three to five weeks to complete.

How do you charge for your services?
We normally charge by the project or stages of a project.

Will you provide me with a written proposal before beginning your work?
Yes, we will give you written proposal, along with an engagement agreement and a confidentiality and nondisclosure agreement.

What could I expect as an initial fee?
This is difficult to answer as each assignment is unique. That being said, we usually try to start with a definable project that can give the client exposure to The Development Group and a sense of what we can accomplish. Such an assignment might cost $15,000 to $30,000.

How long do your projects normally last?
This is dependent upon the complexity of the project and the degree of difficulty we may encounter in working to create consensus though six months to two years is probably the norm.

When you finish your work with me will I have a written report or deliverable?
We believe in results, not long written reports, but you will be kept completely informed at every step in our relationship, including written reports, if necessary.

Who will do the work for me?
The relationship with your family and/or business will be managed and coordinated by a Principal; there are no inexperienced associates. If other professionals are needed for specific tasks, we will recommend and manage their involvement on your behalf.

Would you use my current outside professional advisors or would you replace them?
We always hope to work with the current professionals. However, in some cases where specific skills and experience are required we might make a recommendation from a list of professionals.

I do not see any psychologists of psychiatrists in your group. I would think they would be needed.
When we find a clear need for such professionals we have affiliations with professionals who specialize in this work and in whom we have confidence.

Do you perform legal, accounting or estate planning work?
No, we are not lawyers, investment bankers, insurance brokers, CPAs or commercial bankers. We refer such matters to accomplished professionals but we will represent your interests in dealing with them.

Do you perform business valuation work?
No, this is not part of our expertise but as with other professionals, we will represent your interests and manage this process with you.

Are you compensation experts?
No, but we are able to review and make recommendations on compensation reports by virtue of our experience in this discipline.

Can you assist me in finding members for my Board of Advisors or Board of Directors?
Yes. If we cannot locate someone for you, we can introduce you to a number of professional search organizations and assist you in the process.

Do you address organizational behavior and organizational development?
Certainly. Assessment of organizational behavior and development is critical to the success of our work so it is always a part of each assignment. Each of us is expert in this area.

Geographical Coverage

Can you assist families in all parts of the United States?
Yes. We have worked in most parts of the US.

References and Confidentiality

May I check your references?
Absolutely. Since we work in confidence we have a process that protects our clients' identity and yours, but we are pleased to have you talk with clients and others with whom we have worked.

How do I know that my information will be kept confidential?
Confidentiality is essential so our documentation is very specific. Beyond that, we stake our reputation every day on keeping quiet. We would not be in business otherwise.

History

How long have you been in business?
The firm began in 1991, but both Principals have been working in this area of business for over 20 years.