It is important to understand ones’ WHY, core purpose and long-range plans before proffering recommendations. Asking the right questions is the first step to identifying blind spots and developing a clear picture of priorities:
The Right Questions
- What are the short, mid and longterm goals for the company?
- Could the company survive without the owner/leader?
- Where would you like to see your company in 10 years?
- Do you have a succession plan?
- Has your company been appraised?
Challenges often equal rewards
Few challenges demand more of a business owner than successfully passing the family business to future generations. Yet when properly executed, the rewards are numerous. Family members have a special opportunity to preserve the hard-earned institution that reflects the family’s ideals and goals. Perpetual planning, when done correctly, can provide quantifiable and lasting results.
Business owners face many challenges independent of “running their company”; fringe benefit planning, qualified retirement plans, buy-sell arrangements, and operations represent only a few.
Improving your business begins with a thorough analysis of your current situation. Coupled with a clear understanding of where you want to go, we can determine which planning strategies most effectively help you reach your goals. Using our Second Opinion Service™, we provide a “Report Card” that illustrates and demonstrates the strengths and weaknesses of your existing program, along with recommendations for improvement.