Business Planning1 At Fortune 360 Group, we strive to serve as a professional business consultant, helping business owners chart and navigate a course for their individual business goals. We apply a holistic approach to your business planning needs, helping you prepare for your eventual exit, protect your business, improve your tax situation, and more. Exit Planning & Business Continuity It’s important that you have a plan for when you eventually exit your business, whether it’s selling, going public, or transferring it to a family member. However, if you’re like many business owners, you are so caught up in the current needs of your business that you haven’t thought about the future. You also may not realize that your approach to exit planning and business continuity planning impacts not only your personal life, but also the surrounding economy and community.There are three risks you face that would cause you to exit your business: death, disability, and retirement. The question is, what will happen to your business when you leave? An exit plan should address this question, as well as several others, such as:Will a successor be available and willing to operate the business?Will the successor be a family member, business partner, or other individual?Would a satisfactory return on business capital be provided for your family?Could tax-favored profits be withdrawn for your family?Is there a desire for continuing family involvement in the business?Would a buyer be readily available?We work with you to create a comprehensive exit strategy that addresses these questions and helps ensure you have a plan for the expected (and unexpected). Succession Planning Beyond having an exit strategy, a succession plan is critical for ensuring a smooth transition and organized transfer of ownership. We believe a succession plan should address multiple concerns and goals, including your retirement objectives and desire to protect against unexpected occurrences.Today, succession planning is not only important for business owners and CEOs, but also key executives of your company. What would happen to your business if your CFO left? How would you fill talent gaps? Through succession planning, we can help you identify key positions in your organization and build a pipeline of qualified employees to fill key positions when they become vacant. Key Employee Insurance Key employee insurance, also known as key man insurance, is life insurance on a key employee or partner, with the business serving as the beneficiary. This can offset a risk by reimbursing your business for economic losses that occur when a key executive of your company dies. We can work with you to determine your business’ key personnel and evaluate affordable solutions to this liability.