Achieving Business Prosperity
You dedicated your life to building and running a company. The value proposition is “out there somewhere”. But the reality is that it is seldom found.
Meanwhile you live in the “today”. Are you transferring value out of the company and into your family in a way that is commensurate with the risk, work and commitment you put into your company? If things don’t work out as you had hoped, has it been worthwhile for you? For your family?
Ask yourself these questions:
- Is 80% or more of your net worth tied up in your business?
- Do you consider building value not to be a major concern since your business is financing your required lifestyle?
- What do you think the value of your business will be if you cannot show up tomorrow because you are dead or disabled?
- What to you think your family will be able to get if they have to “fire sale” the business?
- Do you have a management succession plan in place?
- Do you have investment vehicles other than your business?
- What provision have you made to protect your assets?
- Do you have a financial plan that minimizes both income and estate taxes?
Even the questions that we have to ask ourselves to evaluate our progress have changed. Business prosperity is now won by companies that are competing globally, not just locally, with new and innovative strategies. The old adage “Business as usual” is now extinct.
Are you on a course to business prosperity or is it “business as usual”? Give us call. We can help navigate.
