Business planning focuses on issues specific to business
owners and shareholders. For most business owners, the
business is their most significant asset, and the financial
success of that business has an immediate impact on
the economic security of the family. Without proper
planning, you may have difficulty tapping the value
of your business to support your retirement, or your
family may lose the value of your business at your death.
Our process coordinates the management of your
business throughout its life cycle with:
- risk management,
- distributions to the owners, and
- succession planning.
Operation planning focuses on critical components of
managing a business in the various stages of its life
cycle. Common and controllable management issues include
sales and marketing, cost/benefit analysis, controls,
human resources, tax issues, asset management, and product
Starting and running a business carries its own set
of risk exposures and there are several
factors that can impact how safe your personal and business
assets are from risk. These include, but are not limited
to: the type of business entity you choose, the state
you choose to do business in, as well as how you manage
your business, your human resources, and your taxes.
Business risk management identifies your options for
handling these risks.
Executive compensation focuses on
both cash and non-cash approaches. The size and structure
of the business significantly influences your compensation
systems. Large businesses tend to provide owners with
sophisticated and sometimes complex compensation formulas.
Small businesses tend to adopt a more straightforward
compensation approach. Examples of compensation include
insurance benefits, qualified retirement plans, stock
options, personal performance initiatives, and other
tax-advantaged nonqualified plans.
Succession planning focuses on the
transition of a business from an existing owner to a
new owner. While key factors vary extensively with business
type and industry, there are some factors common to
all business transitions, including the creation of
a sellable business and the formulation of specific
transition mechanics at time of sale. Additional succession
planning issues include positioning a business for sale,
determining valuation and terms, grooming senior management,
and creating strategic alliances.
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