Bite-Sized Bits of Knowledge

OLD Intro to BBK Business Planning Series

Business planning is a big universe! It ranges from conception to startup evolving into operations, maturing and transitioning into secession and often culminating in an exit. As every business owner and executive knows all too well, there are an infinite number of challenges that can happen along the way. There is no way to eliminate problems but you can mitigate them with thoughtful planning.

Thoughtful planning will include the following examples:

  • Setting up the right business from the beginning.
  • Forming the right entity for tax purposes.
  • Structuring the entity properly to accommodate your vision regarding management, ownership, control, allocations of profit and losses, distributions, transfers, etc.
  • Protecting your intellectual property.
  • Protecting your business interests with employment agreements and customer agreements.
  • Ensuring ownership stays in the family.
  • Transitioning management logically, practically with the right incentives in place.
  • Exiting the business on good terms, maximizing upside and minimizing downside.
  • Transferring the business to the next generation both in management and ownership, tax effectively.
  • Minimizing litigation.
  • Having flexibility to navigate life’s uncertainty.

The rest of the series will touch on these points.

Don’t forget to download our FREE:

Business planning stress test

Florida business entity comparison chart

Additional Resources: 

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Advanced Care Directives
Asset Protection
Business Planning
Business Succession Planning
Estate Planning
Probate Administration
Trusts
Trust Administration
Wills

Additional resources

These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: https://www.haimolaw.com/legal-disclaimer; http://thelaw.tv/broward/About/disclaimer.

YOU ARE NOT OUR CLIENT UNLESS WE EXECUTE A WRITTEN AGREEMENT TO THAT EFFECT. MOREOVER, THE INFORMATION CONTAINED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. EACH SITUATION IS HIGHLY FACT SPECIFIC AND EXCEPTIONS OFTEN EXIST TO GENERAL RULES. DO NOT RELY ON THIS INFORMATION, AS A CONSULTATION TO UNDERSTAND THE FACTS AND THE CLIENT’S NEEDS AND GOALS IS NECESSARY. ULTIMATELY WE MUST BE RETAINED TO PROVIDE LEGAL ADVICE AND REPRESENTATION. THIS INFORMATION IS PROVIDED AS A COURTESY AND, ACCORDINGLY, DOES NOT CONSTITUTE LEGAL ADVICE.

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Knowledge Series

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