We work with businesses to determine how they can achieve their strategic goals and objectives. Once the Vision and Objectives of a business have been set, we can then create a Business Plan to accomplish the above. This plan will describe each of the activities, resources, equipment and materials that will be needed to achieve their objectives, as well as the timeframes involved.
The Business Planning activity involves the following tasks:
- Confirm the business vision and objectives
- Identify the types of resources needed to achieve these objectives
- Determine a value to the business
- Determine the value of each Key Employee
- Calculate the total cost to replace each Key Employee
- Identify what benefits are going to be provided to employees, i.e., Retirement, Medical, Disability Insurance, Life Insurance, etc.
- How will these benefits be funded
- Creating a succession plan for the business and the funding of the plan
- Creating a Buy/Sell Agreement to cover the death, disability or retirement of the owners
- Identifying any other risks and issues related to the business
Performing Business Planning is critical to the success of any organization. It provides the organization stability by confirming that the objectives set are achievable from a financial point of view and provides a carefully constructed blueprint for the business to pursue.