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BOLD starts with your client's current state of affairs and ends when the business owner exits the business. In order to properly implement the BOLD strategies, business owners answer questions regarding their:

  • Stakeholders

  • Current timeline or business life-stages

  • Desired direction

  • Implementation of the proper BOLD strategy

BOLD Strategies

BOLD helps you gather client information to prioritize goals and identify solutions in six key areas.

View strategies

1. Who's involved?

All small business owners have both business and personal stakeholders. First, you must identify who will design and implement the BOLD strategy, as well as the stakeholders who will be impacted.

Business Owner

BUSINESS OWNER

Business Owner's Family

BUSINESS OWNER'S FAMILY

Employees

EMPLOYEES

Business

BUSINESS

2. Current strategies and future needs

Next, you need to determine the client's appreciation and concern for:

  • Retirement/Stepping back from business operations
    Saving enough for retirement

  • Estate planning
    Efficiently passing on assets

  • Executive compensation
    Recruiting, rewarding and retaining key employees

  • Retirement plans
    Aligning retirement plans with business objectives

  • Key person protection
    Protecting the business from loss of a key employee

  • Business succession
    Transferring the business to others at a fair price

No matter what, the final destination is always exit from the business either during life or at death.

Documents

3. Determine the owner's direction

Business owners must balance family needs and desires with business and employee needs and desires at every life-stage of ownership. There are two main directions the business owner can take: personal or business goals. A complete BOLD strategy will explore both directions.

Business Owner

4. Choose BOLD priorities

Once you've identified your client's top priority, you can help the business owner choose which personal and/or business priority to address first:

Business Owner

Once you've identified your client's top priority, you can help the business owner choose which personal and/or business priority to address first:

Business owner

Help business owners maintain their lifestyle and become independent of the business.

Retirement/
Stepping back

Business owner's family

Help business owners successfully protect and transfter assets to their loved ones upon death.

Estate planning

Employees

Help ensure the business offers employee benefits to recruit, reward and retain key employees.

Retirement plans

Executive
compensation

Business

Help ensure successful business continuation and transfer upon death of a key employee or sale of the business.

Business succession

Key person protection