*PowerPoint presentation included - Download Notes to access*

Planning:
o Something that everyone would like to do.
o Intention may be there, but it doesn’t always happen. We have to find the time, and the
more you plan, the better you will be at it.

What’s in the PowerPoint?
o Comments from Paul Bryant
o Comments from Peter Drucker:

- 5 elements:
1. What’s your mission?
2. Who’s your customer?
3. What is your customer value?
4. What results do you want from your plan?
5. What is our plan? *write it down*

Let's discuss some of the important aspects of retirement planning.

Support in guiding and developing the next generation.

What is mentoring, and are you a good mentor?
o Talking vs Teaching
- Never letting the next generations “touch the keys”
o Is the next generation prepared?
- Fear of failure to rise to the level of their successful parents.

1. Reciprocation Agreement
a. To give successors a broader perspective of the industry
- Contract with another business in the industry – communication between the
two businesses to focus on what they need exposed to.
- That individual leaves the company and goes to work at another business.
- Talk to your wholesaler if you don’t know of someone to have this agreement
with.
• Does the wholesaler have an opportunity with them?
b. Example: Coors & Gallo Families

2. Send successor to work elsewhere without an agreement.
a. Doesn’t have to be in the industry.
b. Still learn new business ideas
- Ex. Working with perishable foods as a grocer and being able to bring back that
information to your business.
c. Difficult, but can be successful with communication and understanding of expectations.

*Success dependent upon the next generation being prepared.