8 Risks
To Business
Survival
Inventory
Equipment
Goodwill
Receivables
Key People
Real Estate
External Risk
Internal Risk
• Higher Taxes
• Rising Health Care Costs
• Economy of the U.S.
• Increased Competition
• Fiduciary Liability
• Your Business is your Retirement
• Complacency or Short-term Thinking
• Lack of a Strategic Plan
•
Business Success
•
Business Preservation
•
Personal Financial Success
The Business Survey
A professional Process to Overcome the Risks to Business Success
Designed to help you to lower expenses and taxes,
while increasing business profits
Confidentiality
Topics we discuss today and in the future will be held in confidence.
Customized Strategies
After reviewing the specifics of your financial situation, we mutually determine which, if any, of our services might be appropriate for you.
Compensation
Our compensation is contingent upon the services our clients select. • Fees*
• Commissions
• Recommendations/Introductions
Before we begin - just a couple of quick questions.
1. What is important about money to you?
2. What are 3 things that concern you financially that you would like to talk about today? A.
B. C.
Getting started...
How We Work
What this can mean to you…
“Financial peace of mind”
3
We use a 4 Step Approach
Consultation
• Discuss your concerns • Establish goals and priorities
Analysis
• Organize data • Prioritize your goals • Cash Flow Analysis
Solutions
• Review analysis
• Select suitable recommendations • Adopt a strategy
Monitor & Review
• Higher Taxes
• Rising Health Care Costs for
Employees
• Economic & Stock Market
Impact on Your Investments
• Increased Competition
• Increased Fiduciary Liability of
your 401k
• Your Business is Your Retirement
• Complacency and Short-term
Thinking
• Lack of a Strategic Plan
Are any of these concerns of yours?
Which ones?
The Business Advantage
©has been designed to help you overcome
the 6 risks to your business survival. The components are
customized to fit your needs and concerns.
©
Qualified Plan Analysis.
An Informal Business
Valuation.
Review of your Buy/Sell
Agreements.
Healthcare Analysis.
Succession Plan Analysis.
Estate Plan Strategy.
The questions will tell you more about the areas that we work with. Your answers will tell us both if there is an area we can help. (It will take about 9 minutes to complete).
Date: Business Name: Your Title: Date of Birth: Business Phone: E-mail: Form of Business: q Sub S Corporation q C Corporation q Professional Corporation q Sole Proprietorship q Partnership q Professional Partnership q Other
Year Business Started: Year You Started:
Percentage of Business Owned or Controlled by You:
By Others:
Business Information
YES NO
Do you know what your business is worth? q q
Do you have a written succession plan? q q
Do you have a written Buy/Sell Agreement? q q
Is the Buy/Sell Agreement funded with Life Insurance? q q Does your Buy/Sell Agreement have a provision for disability? q q
Your Business is Your Retirement YES NO
Do you have retirement vehicles other than your business? q q Are your business assets more than 50% of your retirement plan? q q Do you have a plan to “convert” your business into retirement income? q q Do you have a written retirement analysis? q q
Would you like to see a complimentary retirement cash flow analysis? q q
Higher Taxes YES NO
Do you have a “team” of financial advisors working for you? q q Do you fully utilize all available methods to minimize or avoid taxes? q q Will any of your sources of retirement income be tax free? q q Would you like a complimentary second opinion? q q
Business Valuation
5
YES NO
Are you concerned about paying too much for group medical coverage? q q Are you aware of the impact of the new healthcare law? q q
Is your company HIPPA compliant? q q
Would you like to see how you could save 5-20% in premiums? q q
Rising Healthcare Costs
YES NO
Has your plan ever failed a discrimination test? q q
Is your plan top heavy? q q
Is your plan most concerned about highly compensated employees? q q Are you concerned about employees not saving enough? q q Does your plan have adequate investment choices? q q Are you aware of the “hidden” cost of your plan? q q Are you satisfied with the investment performance of the plans investment choice? q q Are you aware of all your fiduciary requirements? q q
Would you like a complimentary cost and investment analysis? q q
Are you satisfied with the amount you are able to contribute for yourself? q q
Fiduciary Liability (Pension/401K)
YES NO
Do you have Life Insurance? q q
Is your life insurance adequate? q q
Have you had a life insurance audit performed? q q If you could save substantial premium would you be interested? q q Do you have a plan to retain key employees if something happens to you? q q
Life Insurance
YES NO
I am too busy trying to survive. q q
I have completed a succession plan review in the last two years. q q I have had a third party business valuation in the last two years. q q My attorney and CPA are proactive with tax ideas. q q
7
Future Planning
I am Interested in Discussing
q Tax-favored financial products
q Methods to reduce estate taxes and expenses q Methods for the company to pay my death taxes q Methods to provide income for retirement
q Methods to provide for my family in the event of death q Methods for the company to pay for personal insurance q A review of existing insurance
q Methods to retain key people
q Methods to reduce employee benefit costs q Insurance on children/grandchildren q Other (specify)
Please check all applicable items
In the near future I expect to:
Please check all applicable items
Business
q Borrow money q Purchase property q Hire key people q Pay off a loan
q Take in a new partner q Change employee benefits q Purchase insurance
q Sell business interest
Personal
q Have a child q Adopt a child q Improve home q Buy a home q Care for parent q Change marital status q Inherit assets
Designed to help you to work towards your goal of not running out of money during retirement
The Business Survey©All rights reserved.
