What about you? Getting Back to Basics

I had lunch with a customer six months ago and we were talking about all that he had accomplished in his business - the new customers, the new employees and product offerings.  However, the meeting took a turn when I asked, “What about you?” 

We started to discuss his own business and personal goals and it became evident that he had not done any type of personal planning or business continuation planning.   You may find yourself in a similar position; so focused on getting your business moving forward, that you neglect your own needs in the process.  Here is a quick quiz to help you evaluate the "you" factor in your business:

·         If you have a family, have you completed your will and trust documents?

·         Have you properly protected your income if you become sick or hurt?

·         Have you protected the continuation of the business should you be unable to do so?

·         If applicable, have you reviewed your buy/sell arrangement and funding mechanism in the past 5 years?

·         If you are 50 years of age or older, have you determined how you will protect your assets that you have saved over the years?

·         Have you thought about those important employees of yours? What if something should happen to them and you are unable to replace them quickly?