Planning for the future of your business while running a successful operation day-to-day can be a daunting task. Elements to consider include contingency plans if you are unable to run the business or if you retire, looking for ways to attract and retain employees, and innovative benefit solutions to incent key employees.
Plan for the unexpected – Who’s going to run your business if you retire, become disabled or die? Do you have a plan to sell or liquidate your business so that you and your family receive the full value?
Attract quality employees – Are you looking to attract new talent and retain employees? Would you like to help your employees save for their retirement? What can you offer them that makes your company stand out among the others?
Retain key employees – Have you thought about what you would do if your most important employee left your company? Have you considered doing something extra for them?