Personal Goal Setting and Financial PlanningExperiencing growth or transitioning to a sale; everyone benefits from goal setting.

Happy couple smiling
Defining and communicating personal goals and aligning them with the future of the business.

A husband and wife team put their heart and soul into a business and it was finally growing fast – too fast! The business was consuming their life and they felt they could not go forward alone any longer. They went looking for a business coach – and found The Business Therapist®.

challenge

The lives of the owners were being consumed by their growing business. The business value was building nicely but the owners’ personal wealth outside the business was minimal. The husband and wife team were starting to think about succession planning and retirement but realized they didn’t have the time or knowledge to move forward.

solution

We started with a half day offsite session with the owners to gain clarity on their personal goals. Once we understood where they wanted to go personally, we then worked on achieving clarity of the vision and strategy for the business that was aligned with their personal goals.

We helped the owners move past a barrier which was in the way of preparing their personal wills.

We involved their accountant and created a structure to move cash out of the operating business with the tax minimized. The owners had a trusting relationship with their accountant and we helped implement a strategy for him to be more proactive with future business planning.

Our next move was to engage the next level of management in the business. The management needed to step up and take more responsibility so the business owners could free themselves.

results

Once the owners were able communicate their vision and strategy clearly to the key employees, these employees were also able to determine if the business’s future was aligned with their own personal goals. All except one stepped up to support the vision and take on more leadership responsibilities. Although losing one key employee was painful, it was a mutually beneficial action for all.

We helped the husband and wife team get their financial affairs in order and created a program to “stash the cash” outside of their business to grow their personal wealth.

It was very rewarding for us to help this husband and wife team achieve clarity of direction, get their key people engaged and focused and allow the owners to start enjoying a life outside of the business.

lessons

Defining and communicating personal goals and aligning them with the future of the business benefits everyone. The owners now enjoy more freedom from the business and are able to move forward with a new phase in their lives — either selling the business or transitioning it to the next generation.

How can we help?

Curious how The Business Therapist® could help your business? Please reach out to us.

The Business Therapist® helped us through what we’d consider to be common business challenges; accounting issues, sales, marketing advice, retirement planning and general business advice. There are so many things that business owners don’t or won’t do – either because they don’t realize they should, or they don’t know who to turn to for advice.

Martin Bates Advanced Basement Systems
Martin Bates
Owner, Advanced Basement Systems

I started a company with 4 employees and Paul from The Business Therapist® was there for me right from the start. Over 22 years it grew to 36 employees and nearly $7 Million in sales. From helping me secure a substantial operating line when lending was difficult to obtain, interpreting year-end financial statements, team building exercises to finally transition the business to sell; Paul was there for me for any crisis and felt more like a partner to me than a consultant. I could never thank Paul enough. I don’t know if we would have survived the tough times without him.

Mike Bondy Testimonial The Business Therapist
Mike Bondy
Former President (Retired) , Quality Offset Printers

A goal of many business owners is to grow personal wealth and freedom from their business. If this sounds like you, please reach out to us.