What is Business Planning?
Business planning is the creation of a formal strategy that helps define the summary of a business’s current position in relation to the competitive environment, as well as its current value. This is followed by significant steps that establish options to enhance cash flows for your business in an effort to expand its value, and thus generate additional wealth going forward.
Strategic business plans aren’t just about profits, however. Knowing your competition, awareness of your market position, developing employee morale and retention strategies—plus more—are all valuable components of sound planning.
A few of our business planning services include:
- Competitive analysis & assessment of competitive advantages
- Business valuation
- Strategic planning
- Revenue forecasting
- Cash flow analysis
- Business contingency planning/plan
- Wealth transfer techniques
- Tax efficiency
- Business succession planning
How is business planning with Midwestern Financial different?
Many of our clients are individuals or families with businesses. As in most cases, business operations and related assets tend to be a significant source of wealth creation and concentration of risk.
Initially, we sit down and discuss with our clients what they want to accomplish with their business. What does this look like five years from now and through the end of life? Executing for the future requires a great deal of initial input, as well as ongoing review, as little remains static.
Our conversations with business owners are broad in nature. We primarily focus on planning items and strategies that allow business owners to manage risks, optimize the allocation of resources, and execute a plan based upon desires for succession or transfer of wealth.
Midwestern Financial Group: Business Planning for Everyone
At Midwestern Financial Group, we can help make your money work for you. We are a fee-only financial planning firm that provides investment and financial analysis with a fiduciary standard of care, which means our only priority is what’s best for our clients. We don’t sell products or take commissions—our only goal is to help you grow your wealth so you can achieve your financial goals with confidence.
No matter what your financial goals may be, our team of professional advisors can help you make the most of your money. We can create custom investment and asset management plans, help you save for college, and much more. If you’re looking for personalized financial assistance, we’re here to help.
