TITLE TRANSITION KEY FINDINGS
The Aldrich 2025 Private Company Report presents findings based on original survey data collected from 30 business leaders from Inland Northwest private companies with annual revenues between $5-150 million. As business owners and executives in the Spokane area thinking about growth, operations, and managing uncertainty, they identified five key areas:
Focus on operational excellence Operational excellence was identified as a top focus area by 67% of area leaders, even ahead of talent strategies (53%). In a competitive market, a focus on operations can help achieve other priorities identified, such as increasing profitability (80%), cash flow management (47%), and cost control (40%). Developing an effective talent strategy Finding qualified/top talent (83%) was easily the highest staffing concern for leaders. Considering ways to become an employer of choice, from increasing pay and benefits for top employees to developing clear opportunities to advance within the organization should all be considered. Accounting and finance at the center Tax optimization strategies should be on every private company’s radar. Areas of low implementation include cost segregation studies (7%), R&D tax credits (27%), cash flow management (30%), and income deferral (20%). Identifying complex but high-impact areas for outsourcing (tax planning, internal audits, cash flow, and financial statements) can have a positive effect. Access to data that can drive decisions Only 3% of respondents felt their access to data to drive decisions was excellent. Leaders are often awash in financial, operational, market, and industry data, so pairing AI-enabled tools with advisors who understand your goals can help turn your big data into big insights. Long-term succession planning A successful transition can take 5-10 years, and 53% of respondents are looking to exit their business in the next decade. While many leaders have a personal financial plan (70%), few have a succession plan (37%). In the past year alone, 50% of respondents received at least one unsolicited question or offer about selling, and 40% have had more than three offers.
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