The Business Owner Journey

Implement term insurance, critical illness insurance, and budgeting to protect against debt and ensure cash flows are healthy.

Survival Stage

Growth Stage

Maturity Stage

Survival Stage

Problem: Business owners face potential financial ruin due to unexpected events like death or critical illness. 

Solution: Implement term insurance, critical illness insurance, and budgeting to protect against debt and ensure cash flows are healthy.

Material for clients

Sales concepts

Excel or PDF tools

Other

Problem: Business owners risk their future financial security by not protecting their income or human capital.

Solution: Utilize critical illness insurance, key person insurance, and explore both individual and corporate investment strategies to secure your retirement goals.

Material for clients

Sales concepts

Excel or PDF tools

Other

Problem: Lack of comprehensive financial planning leaves family and business vulnerable.

Solution: Create a robust financial plan including family protection, will creation, power of attorney, and intergenerational wealth transfer strategies.

Material for clients

Sales concepts

Other

Growth Stage

Problem: Loss of a key executive could severely impact business continuity and success.

Solution: Implement key person protection strategies using life and critical illness insurance.

Material for clients

Sales concepts

Excel or PDF tools

Other

Problem: Lack of a funded buy-sell agreement puts business continuity at risk

Solution: Develop and fund a buy-sell agreement, ensuring each owner obtains independent legal advice, and work with accountants and lawyers and other centers of influence to maximize what matters most to clients.

Material for clients

Sales concepts

Excel or PDF tools

Other

Problem: Difficulty attracting and retaining top talent due to inadequate benefits packages.

Solution: Implement executive benefit plans such as shared ownership critical illness insurance.

Material for clients

Sales concepts

Excel or pdf tools

Other

Problem: Absence of a clear succession plan threatens business continuity and shareholder interests.

Solution: Create a funded buy-sell agreement and seek independent legal advice to ensure smooth ownership transitions.

Material for clients

Sales concepts

Excel or PDF tools

Other

Maturity Stage

Problem: Inefficient tax strategies lead to unnecessary tax burdens on the business and its owners.

Solution: Implement corporate-owned life insurance and utilize strategies like the Capital Dividend Account to optimize tax efficiency.

Material for clients

Sales concepts

Excel or PDF tools

  • BBS (Excel tool in Resource Center)
  • BBS PowerPoint presentation for meetings (Resource Center)

Other

Problem: Lack of proper estate planning may result in excessive taxes and even potential family conflicts.

Solution: Develop comprehensive estate plans including estate freezes, probate minimization strategies, and post-mortem tax planning.

Material for clients

Sales concepts

Other

Problem: Inefficient income strategies in retirement lead to unnecessary tax burdens and reduced lifestyle.

Solution: Implement smart savings strategies and corporate/individual retirement plans to maximize income efficiency in retirement.    

Material for clients

Sales concepts

Other

Problem: Inefficient distribution of business and personal assets to beneficiaries.

Solution: Establish and fund appropriate trusts now to ensure efficient and controlled asset distribution according to your wishes in the future.

Material for clients

Sales concepts

Other