It's important to make informed and independent decisions when it comes to your family business. Sometime's the biggest compliment to an outside resource is year's down the road when you look back on the transition, and you can't remember what exactly they even did.

Have you considered seller financing as an option to fund your retirement?

*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*

What’s the idea?
• You have been running your business for many years, operated in a way that
appropriate and legal, but it isn’t necessarily the same as one would run a publicly
traded company.
• When on the sale path, adjustments need to be made.
o Three years operating your business as a publicly traded business.
o The cleaner your accounting, the better it is to be able to tell the story of your
business.

Watch to learn how we tackle the following question in a multi-generational family business;
Is this business bigger than any one of us, or is this business still a commodity that serves the individual owner or owners?

Needs Analysis is an important part of selling to an outsider, or passing the business to the next generation.

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