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 Business Ownership Planning 

Most Business Owners are use to BUSINESS PLANNING and it has been a part of their regular activity.

Most have not been as diligent with OWNERSHIP PLANNING.

If not, it is time to reflect -- It is also time to act.

You will eventually leave your business.  You have three options:

  1. Do NO planning -- just wait and see what happens.
  2. Transfer ownership to family or key persons for them to continue.
  3. Sell to a third party.

Number 1 should not be the option you choose.  Sometimes that becomes the option because you haven’t confirmed whether option 2 or 3 is the best fit for you.

Actually you must plan effectively for both 2 and 3.  Ultimately you will know – if you have planned for each eventuality.

Each owner is different – different in age, family and outside interests.  The objective should be to carefully plan so that all possible differences are coordinated into a single Business Plan.

Perhaps the single most important factor centers around the VALUE of THE BUSINESS ENTERPRISE.  Value is necessary to fairly coordinate your varied differences – and Value is not the same as Price.

The best Planning Tool we have come across is a book titled: “How To Run Your Business So You Can Leave It In Style.”  

We are living in a complex world and no single individual has all the tools and experience to do the job alone.  Ultimately you need to develop a Planning Team as suggested in the book mentioned above.

Let’s start with a review and from that set a schedule.  Who is responsible to do what?  When is it due? And what will it cost to complete?

Northrup Burdt Insurance Services
4159 Misty Ridge, San Diego, CA 92130
Phone: 858-597-6700 | Fax: 858-597-6701

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