Grow
Your business is your wealth engine. Cash flow is the lifeblood of any business. Therefore our wealth building strategies focus squarely on cash flow, how it can be harvested and invested in the most tax advantaged way. Our goal is to generate sufficient investment portfolio cash flow for our clients to meet lifestyle and retirement income needs without the necessity of cashing in any of the underlying assets.
Cash flow surplus (not required for living requirements) is always retained and invested inside the corporate structure i.e. never invested personally.
Do's
- Begin this stage years before expected transition of business
- Groom key employees/family members to take on business responsibilities
- Set up a Family Council and meet at least once per year
- Join a family business organization such as CAFE
- Read succession planning books articles and materials
- Seek out family business specialists to help manage the succession process
- In the case of an outside sale seek out services of a business valuator and an experienced business broker
Don'ts
- Ever forget the axiom: "perceptions are reality, facts are negotiable"