The Blueprints

1. Preparing For The Unexpected™

Preparing For The Unexpected™

Components:

  • A complete set of contingency instructions outlining who will do what, when, and where in the event of the death or serious illness of the business owner.
  • A complete and detailed Succession Plan.
  • Stay Put Agreements guaranteeing that key employees will stay in place and assist the owner’s family in the case of the owner’s death.
  • Key employee assessment report.
  • One document with all pertinent information the family would need to know; assets, liabilities, account numbers, passwords, PIN numbers, etc.
  • Written funeral instructions and detailed end-of-life directives.
  • A Buy-Sell Agreement (if one does not exist), including:
    • Education on all of the nuances to a Buy-Sell Agreement.
    • Sample documents for a Buy-Sell Agreement.
  • If there is an existing Buy-Sell Agreement, it will be reviewed by attornyes.
  • Assistance with obtaining a complete and updated set of estate planning documents from an attorney.
  • Understanding of all risks involved in the event of the premature death, illness, or disability of the business owner.
  • A complete audit of all life insurance policies assuring a program that is adequate, efficient, and cost effective.
  • A Survivorship Analysis for all of the cash flow needs of the owner’s family.
  • If an insurance product is needed and desired, we will obtain quotes from over 100 insurance companies and complete the underwriting of those products.

2. Outside Sale Of The Business

Outside Sale of the Business

Components:

  • Develop a systematized business.
  • Put the business into growth mode.
  • Lock in the key management team.
  • Adopt a “hands-off” business.
  • Attract several potential buyers.
  • Receive maximum cash from the sale.
  • Leave when you want to leave and stay if you want to stay.
  • Create and implement a plan for what to do with the rest of your life.
  • Control the sale process.

Tools:

  • Business valuation.
  • Market value drivers.
  • Systematizing the business.
  • Golden Handcuffs for the management team.
  • Well designed transition plan.

3. Inside Transition To Family, Co-Owners Or A Key Employee(s)

Inside Transition to Family, Co-Owners or Key Employee(s)

Components:

  • Make sure new owners can run the company without you.
  • Delegate what you are currently doing.
  • Train employees to be employers.
  • Put the business into growth mode.
  • Guarantee an income stream from the sale.
  • Minimize taxes to you.
  • Minimize taxes to the sellers.
  • Ensure that you will not end back up with your business.
  • Create and implement a plan for what do with the rest of your life.
  • Lock in non-owner managers.
  • Review a Buy-Sell Agreement by independent attorneys.

Tools:

  • Business valuation.
  • Market value drivers.
  • Systematizing the business.
  • Golden Handcuffs for the management team.
  • Well designed transition plan.

4. Passive Ownership

Passive Ownership

Components:

  • Learn how be away from the business.
  • Delegate your current business responsibilities.
  • Train employees to be employers.
  • Put the business into growth mode.
  • Teach new capabilities to new management team(s).
  • Clean up all of the “messes”.
  • Guarantee that the business can run without you.
  • Plan what to do with the rest of your life.
  • Lock in non-owner managers.

Tools:

  • Market value drivers.
  • Systematizing the business.
  • Golden Handcuffs for the management team.
  • Well designed transition plan.

5. Wealth Accumulation And Asset Protection

Wealth Accumulation and Asset Protection

Components:

  • Create systematic savings.
  • Develop total control.
  • Build in flexibility.
  • Assess risk tolerance.
  • Diversify.
  • Accumulate tax-deferred growth with tax-free access (no IRS or ERISA involvement).
  • Prepare and implement survivorship benefit in case of premature death.

6. Premature Death

Premature Death

Components:

  • Determine human life value
  • Determine the cost of raising and educating a child
  • Identify cash needs that will arise at death
  • Guarantee family’s income and standard of living
  • Finance any educational needs
  • Determine additional capital required to provide for survivor needs

Determine and Implement:

  • Who will operate your business for the immediate future and how we guarantee that they will stay?
  • Should the family retain the business? Should the business be sold?
  • Should the business be liquidated on a planned basis?
  • Does your estate have sufficient liquid assets to pay estate taxes?

Tools:

  • Business valuation
  • Specimen documents
  • Review a Buy-Sell Agreement by independent attorneys
  • Survivorship and Income Needs Analysis
  • Federal Estate Tax Liquidity Analysis
  • Written Contingency Plan
  • Document last wishes and desires
  • Stay Put contracts for “go to employees”

7. Orderly Estate Distribution

Orderly Estate Distribution

Components:

  • Prevent “unwanted heirs” from taking their portion of the estate.
  • Reduce the high cost of dying.
  • Avoid probate.
  • Eliminate estate taxes.
  • Arrange estate so assets will be distributed the way you want them to be.
  • Review current estate planning documents.
  • Updating current estate planning documents.

Tools:

  • Estate Liquidity Needs Analysis.
  • Specimen documents.
  • Update wills and trusts.
  • Use of unlimited marital deduction.
  • Estate tax reducer.

8. Prevention Of Misspent Life Insurance Dollars

Prevention of Misspent Life Insurance Dollars

Components:

  • Determine human life value.
  • Determine the cost of raising and educating a child.
  • Create a client and policy summary.
  • Review the structure of the policy, ownership, beneficiaries and payment methods relative to client objectives.

Tools:

  • Re-evaluation of the underwriting rate class.
  • Assessment of possible rate-class improvements.
  • Fair market value assessment of the policy, if applicable.
  • Evaluation of the financial security of the insurance company.
  • Objective and comprehensive evaluation of potentially more cost effective or beneficial alternatives.
  • An evaluation of the effect of changes in interest rates/sub-account performance, increase in cost of insurance or any combination of these.
  • Life insurance primer.
  • Survivorship and Income Need Analysis.
  • The Policy Analyst Process.
  • Life Settlements.

9. Disability

Disability

Components:

  • Preserve your independence.
  • Maintain your lifestyle.
  • Protect your assets from liquidation.

Determine and Implement:

  • What can happen if disability strikes?
  • What sources of funds might be available to replace your income during disability?
  • Should the family retain the business?
  • Should the business be sold?
  • Should the business be liquidated on a planned basis?

Tools:

  • Income Needs Analysis.
  • Determine available sources of income during disability.
  • Written Contingency Plan.
  • Stay Put contracts for “go to employees”.

10. Build A Winning Team

Build a Winning Team

Components:

  • Measure and reinforce your team’s compatibility.
  • Demonstrate recognition/appreciation to the Key Employee Group (KEG).
  • Use a game changing assessment tool to get into the hearts and souls of the KEG.
  • Combine the employee who has passion, but little intellect with the employee who has intellect, but little passion.
  • Learn the right hiring questions.
  • Deal with multigenerational key employees with different desires/interests.
  • Explore the various Golden Handcuff/Incentive Plans.
  • Build a strong company culture.
  • Incorporate best-selling practices.
  • Avoid “energy vampires”.
  • Escape the commoditization trap.
  • Establish value needed selling.
  • Recognize the dream clients while avoiding nightmare clients and bullies.
  • View the sales cycle through a different paradigm.
  • Focus on the influencers and not just the buyers.
  • Understand what selling looks like from the clients perspective.
  • Implement Hansei and Kaizen principles.
  • Learn how to approach challenges in business from a neurological level.
  • Discern The Dip, The Cliff, and the Cul-de-sac.

Tools:

  • Team Compatibility Assessment (TCA) and supplemental exercises.
  • Receive an extensive report and evaluation with answers to some very unique questions asked of each member of the KEG.

11. Key Employee Owner’s Manual

Key Employee Owner’s Manual

Components:

  • Determine your key employee’s strengths and weaknesses.
  • Create strategies to meet the demands of the key employee’s environment.
  • Learn how the key employee will respond to the pace of their environment.
  • Understand how the key employee responds to problems and challenges.
  • Recognize how the key employee influences others.
  • Discern how the key employee will respond to your rules and procedures.
  • What will motivate and stimulate the key employee.

Tools:

  • The Key Employee Owners Manual.
  • Analysis of the key employees’ manner of doing things.
  • Golden Handcuffs for the management team.

12. Dream Maker

Dream Maker

Components:

  • Develop a systematized business.
  • Create a culture.
  • Write your company story.
  • Improve cash flow.
  • Put the business into growth mode.
  • Attract and retain key employees.
  • Maximize your management team.
  • Clean up the “messes”.
  • Create a differentiator.
  • Extricate yourself from day-to-day activities.
  • Generate recurring revenue.
  • Isolate a scalable product.
  • Incorporate positioning development.
  • Conceive a service contract.
  • Produce FAQ writer for employees.

13. Every Day Is A Sunday™

Every Day Is A Sunday™

You’ve built your business. You’re proud of it, and you should be. What’s next?

  1. Decide what to do with your life after business.
  2. Prevent a boring, meaningless retirement.
  3. Unfreeze your mind about “leaving”.
  4. Learn how to create an exciting and purposeful life.
  5. Prepare yourself for a dynamic lifestyle.

Before you transition to retirement, consider the next phase of your life.

Blueprints For Tomorrow® has developed a series of programs and tools to assist with succession and transition planning. We provide guidance and advice to help you identify opportunities, options and solutions. This Blueprint will:

  • Guide you toward living a meaningful life.
  • Connect you with business and financial experts.
  • Deliver clarity, opportunity, meaning and purpose.

Our systematic business-like approach will help ensure a smooth transition to a dynamic retired life filled with purpose and significance.

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Toll-free: 800.845.9091