Business Planning Pt.2

Subtopic: Wine Scores and What Do They Even Mean Air Date: August 14th, 2020

As a follow up to our discussion last week, we wanted to touch on how best to position yourself  both from personal wealth management and business planning. We will discuss some of the key areas of the business that you can benefit from streamlining well prior to even thinking about putting up “For Sale” sign.

  1. Consulting
    1. Cash flow analysis
    2. Processes analysis
    3. Incentive analysis
  2. Qualified retirement plans
    1. 401(k)
    2. Cash Balance- defined benefit and subject to minimum funding requirements. Investment risk is on the sponsor.
  3. Risk Management
    1. What to have in place?
    2. Buy Sell agreements – these are put in place to protect your estate and business should you pass prematurely. Ex: dental practice

[05:44:14] Wine Scores and What Do They Even Mean?

[22:56:22] Business Planning Pt 2: How best to position your firm/practice for transitioning into the sale phase.