What would it look like if it were easy? Tim Ferriss came up with this question while writing in his journal. For a long time Tim has excelled at forming thought provoking questions. This question gave Tim a boost in his personal growth unlike any he had asked himself before.

What would Business Value Protection Planning look like if it were easy? Asking this question does not minimize the importance of planning for a Business Owner. It does however challenge the status quo. The status quo is a series of lengthy fact finding questions with no apparent direction or goal in mind. It is also planning concepts presented to business owners without a frame of reference or understanding of what needs protecting. These approaches lead to frustration for all involved.

There is a tendency for us as humans to make thing harder than they need to be. If something is difficult we feel we can charge more for our services. We end up creating more work, taking more time and somehow we think this adds value. This is the realization Tim Ferris came to leading him to his key question.

Here are a few of the things we do at Marshall+Viliesis in response to this question which in turn helps Business Owners get better results in less time. Lack of time is one of the primary reasons planning is not done or is incomplete.

First – Define What is at Stake – As a Business Owner you need to understand why you are doing the planning. This will be your anchor. The anchor is a valuation of your business so we know what we are protecting and so you know how to increase the value. Your business is your largest and most important asset. Knowing the value of your company will motivate you to keep going through the planning process. What is your business worth?

Plan Using Clearly Defined Principles – There are three principles we live by in business owner planning. They are Process, Partnership and Product. The process takes us from discovery to a design of the best protection solution. We work with the right partners with the needed skill sets. We are committed to protection products to minimize the cost of planning solutions.

Provide Clear Definitions of the Four Planning Areas – There are four planning areas, these are Succession, Retirement, Estate and Key Stakeholder Planning. As an owner you want to have a clear definition of what they are and how they are interconnected. We want to have agreement on the definitions so we are working to solve the same problem. Once you get to this point it is easier to make decisions.

Every day we challenge ourselves find ways to make the planning process easier for business owners. 

What would Business Value Protection Planning look like if it were easy?


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