Author: Brian Ruh Date: 01/30/2019

Is Your Business Ready for What's Next?

As a business owner or decision-maker, what keeps you up at night? Is it business growth? Cash flow management? Recruitment and retention of key employees? The sale or transfer of your business? 

Instead of being a list of concerns, these should instead be a list of strategies - not something that keeps you up at night, but something you are working towards to improve your business. 

Life Plan for Your Business is a process that works with business owners to address your unique challenges; both the daily issues you face and in planning for the long term. The goal is to help you be prepared when life does the unexpected – whether that unexpected is something positive (unanticipated growth, for example) or negative (a health issue forcing you to fast forward your exit strategy.)

Sometimes you need help finding what you need in regard to reaching your business goals and other times you’re very aware of what’s needed, but don’t know how to get from here to there. No matter where you are in your business, Life Plan for Your Business is built around six segments to help you make decisions and improve your business:

  1. Project Your Goals: look beyond today using two tools (Scorecard and Life Plan Inventory) to help you defeat “shorterm-ism” and determine exactly where your needs are.
  2. Needs Analysis: focuses on finding out “what’s your number” (retirement number, business growth number, and diversified number) and determining if you are on track for where you need to be.
  3. Value Your Business: A valuation looks at numerous aspects of your business. Think of this as the key starter to getting the necessary protections and growth mechanisms in place.  If you haven’t had a valuation in the last two years, you could be quite surprised.
  4. Define Marketability Strategy: Are you ready? The main goal in defining your marketability strategy is to get you prepared for what you want to do whenever you decide to do it.
  5. Design Optimal Solutions: focuses on aligning with your top concerns. For example, the sale or transfer of your business.  Find the right path with two things: 1) specialists that can review your company documents (ex. your succession plan buy-sell agreement to make sure everything is in order,) or if you are several years away from an exit, 2) the pros and cons of each option available to you.
  6. Implement and Monitor Plan: last but not least, stay on course. This tool helps you track your Life Plan for Your Business progress and hold you accountable for meeting your goals.

Which of these segments could possibly assist you in reaching your goals?  

Action Financial Strategies will be presenting a series of Life Plan for Your Business Workshops this February, which will look at the top five concerns for business owners and how to help make sure your plan matches up. Choose from three different locations to take advantage of this insightful, hands-on workshop where we’ll find solutions for you in any stage of your business - startup, growth, or exit. Visit to register.

This material was produced by Action Financial Strategies, LLC and is for informational purposes only. Action Financial Strategies, LLC, its agents and affiliates do not provide tax, legal or accounting advice.  For advice on such matters and before undertaking any related planning action, everyone should consult with their own professional advisors. Investors Community Bank and Action Financial Strategies, LLC are not affiliated, and the views of Investors Community Bank do not necessarily represent those of Action Financial Strategies, LLC or its affiliates.

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Topics: Business Growth, Business Acquisition, General Business


Written by Brian Ruh

Brian Ruh is an experienced financial adviser focusing in business, estate and retirement planning. He is the President of Action Financial Strategies.


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Views provided in this blog are general in nature for your consideration and are not legal, tax, or investment advice. Investors Community Bank (ICB) makes no warranties as to accuracy or completeness of information, including but not limited to information provided by third parties, does not endorse any non-ICB companies, products, or services described here, and takes no liability for your use of this information. Information and suggestions regarding business risk management and safeguards do not necessarily represent ICB’s business practices or experience. Please contact your own legal, tax, or financial advisors regarding your specific business needs before taking any action based upon this information.