Business Planning

Business Planning is one of the main areas of financial planning that we can bring tremendous value to.  We help our small business owners with more than just managing their investments and insurance policies.  We help them to make a business plan, consult on their marketing plan, make sure their benefit and tax structures are efficient and optimized, connect them with strategic relationships, and help them bring it all together so that they can run a more efficient and profitable business.

Business Planning:

Most financial firms do not help business owners with traditional business planning.  Really, how would they?  Most advisors aren’t business owners themselves, they don’t write business plans, and many of them have never run a marketing campaign.  We are, we do, and we have.  I know what you’re saying, “I don’t write a business plan either and I’ve built a great business.”  If that’s the case then that’s great!  We’re not going to try to change you if you’re successful, but if we can help you optimize then we’re obligated to help and give you that advice.  We can help you plan and, regardless of how traditional that plan is, it is great to have a partner who listens to your problems, helps you find solutions, and understands where you’re coming from.  Give us a call, see if we can help.

Benefits Design and Optimization:

Being a small business means you have employees (even if it’s only you) and that means you need a benefits program.  While this may seem like just another inconvenience of running your own company, it’s really a great opportunity.  You have the ability to build a benefits program to help you build your business: attract & retain great talent, secure only the benefits that matter to you, pay for certain benefits pre-tax that most people have to use after-tax dollars for, and create savings plans to defer more in taxes than most are able.  See our list of areas where we can help:

  • Health, Life, Disability, and Long-Term Care Insurance.
  • Pension & Defined Benefit Programs.
  • 401(k), SEP IRA, SIMPLE IRA, Profit Sharing, & Money Purchase Plans.
  • Non-Qualified Deferred Compensation and other executive compensation plans.
  • Stock Purchase Plans, SARs, Phantom Stock Plans.
  • There are many small perk benefits we can help you offer, but the list makes up a majority of the benefits you may want to consider (depending on your individual circumstances).

Succession Planning:

Nearly, 80% of all small businesses die with their founders.  This is a tragedy!  Many of these businesses had residual incomes and assets, and could have added considerably more value had there been prior planning.  We can help you to institute a plan to make your life’s work carry on beyond your lifetime, pass value to your loved ones, and limit potential taxes on your estate.

Strategic Relationships:

No one is an expert on everything.  We can help you to organize and find strategic relationships that will strengthen your business and save you time, effort, and the headache of finding experienced professionals that you can trust.

Legal Advice:

While we do not give legal advice, we can help to consult with your existing attorney or help you to find an attorney.  Whether you need a business attorney, an employment attorney, a patent attorney, we can help you through the process and introduce to you great people to help you solve your problems.

Tax Advice:

While we are knowledgeable in this area, we generally consult with our clients’ existing accountants or introduce them to great tax professionals that can help them run their business more safely and efficiently.  This is an area that can make or break a business, and we do more than forward 1099s to our clients’ accountants.  We work with your tax professional to develop ideas and come up with efficient tax strategies.  This is critical – most advisors will not help you with this aspect of your business planning, and most tax professionals do not like to give future planning advice.  Together a good financial advisor AND a good accountant may be able to bring substantial value to your business.

Banking Relationships:

Whether you need simple business banking services or you are looking for additional funding/capitalization opportunities, we have many established relationships that may help you grow into that next level of success.

Other Relationships:

We have developed strategic relationships in many other areas that may help your business, including: marketing, sales, business valuation, staffing, outsourcing, etc.