Your Personal Financial Coach

Life plan for your business


Life plan for your business® is a proprietary collection of tools and resources for business owners. The Life plan strategy focuses on business planning by carefully examining short- and long-term goals. The steps listed below include specific tools and resources that can help business owners create a succession plan that meets their objectives and individual situations.

Step one with Life plan is to understand the client's goals. The tools available will help initiate the conversation around business exit and succession planning as well as begin the information gathering process. A sample of the Life plan Inventory is shown below.

The Needs Analysis step in the Life plan process focuses on aligning the client's retirement, business, and life goals. The tools in this step are calculators that will help determine and solve issues around retirement and business planning. A sample Conversion of Value Analysis is shown below.

The Value Your Business step in Life plan consists of a three-level strategy that incorporates different levels of analysis. A valuation is critical to properly prepare for the business exit or succession process. A sample Estimation of Value is shown below.

The Define Marketability Strategy step in Life plan provides concepts and resources to help create a more marketable business. The focus is on strategies tying key employees to the business. Furthermore, we have a relationship with a mergers and acquisition advisor that will help when selling a business to a third party. A sample of the deferred compensation piece is shown below.

The Design Optimal Solutions step in Life plan provides concept pieces on different business exit options to help clients decide what is best for their unique situation. A sample of the Selling to Co-Owners concept piece is shown below.

The Implement and Monitor Plan step in Life plan provides a tool that can be used to review and track the progress of a business plan. This tool will help everyone remain on track and working towards a common goal. A sample Client Timeline is shown below.