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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
4275 Executive Square, Ste. 400, La Jolla, CA  92037
Phone: 858-597-6700 | Fax: 858-597-6701

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