Small Business - A family investment, (a family headache is no succession planning)
| | Starting | Growing | Maturing | Transferring |
|---|
Risk Management
| * Protect against business liability
* Protect business from loss of owners or key employees
| * Expanded protection against loss of owners and key employees
| * Expanded protection against loss of owners and key employees
| * Review/transfer protection plans
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Business Succession
|
| * Buy-Sell agreement and funding
| * Review buy-sell agreement and funding
| *Exit strategy
|
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Employee Benefits
| * Group medical plan
* Group life insurance
| * Basic retirement plans
* Additional group benefits
* Basic disability protection
* Selective retirement/benefit programs
| * Selective disability protection
* Long-term care insurance
* Selective retirement/benefits programs
| * Review/transfer benefits
* Roll over qualified plan assets
* Begin retirement income distributions
|
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Personal Planning
| * Protect income stream
* Protect family
* Retirement plan
| * Review personal needs for owners
| * Review retirement goals and progress for owners
* Estate Planning
| * Review personal plans for owners
* Review estate plans
|
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Lesson's From Taxi Terry - by Scott McKain
Creating the "UCE", the Ultimate Customer Experience
Who is the Professional? You or a Taxi Driver?