Business & Personal Financial State of the Union Assessment

Part 1 of 4

Financial Independence.

What annual pre-tax income will you need for the rest of your, and your spouse's, lives? How much in savings do you believe will be needed to create this much income?

Are you willing to exit the business/ transfer ownership and control/ without assurance of financial security?
YesNo

When you have more time and freedom after you leave the business, will you spend less money?
YesNo

What post-exit activities will you and your spouse enjoy, and how much will those activities cost?

How will you determine, with precision, what you need?

Part 2 of 4

Departure Date

How long must you work in your business to achieve financial security as well as your universal and aspirational goals? Consider, for a moment, your exit date.

Do you want to work until your children reach a certain age or education level? When is that date?

Do you want to work until your business reaches a certain value?

What does "leaving" or "exiting" the business mean to you?

Part 3 of 4

Desired Successor

My Desired Successor is:
Key Employee/ManagementFamily Member(s)Third Party Strategic BuyerFinancial Buyer/Private EquityI’m not sure yet

Do you have a strong preference for one type of successor over another?
YesNo

What are the reasons behind your preference?

If there were a way for your key people to acquire the needed skills and the money to buy you out, would you consider them as possible successors?
YesNo

If your chosen successor chooses not to succeed you do you have a backup?
YesNo

Part 4 of 4

Values-Based Goals

How important are these goals? Please rate them on a scale of 1-5. 1= Not a goal for me and 5 = Second only to my financial security

Family harmony12345
My legacy12345
Acknowledging Employees12345
Taking the business to the next level12345
Minimize taxes12345
Maintain the culture12345
Benefit the community12345
Quality retirement12345
Benefit a charity12345

All answers are 100% confidential and will be emailed to you immediately.

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