1/5-Step Process to Setting up Your Business for MAXIMUM Asset Protection (and Profits)

Step 1: Assessment

So let’s get started! 

Just a quick recap of the process we use to aid small business owners in protecting their business and personal assets, so they’re able to enjoy and pass them on: 

  1. Assessment
  2. Education
  3. Custom Strategy and Structure
  4. Investment
  5. Ongoing support

Assessment is our first step, as it should be when starting any new venture. We look at what we want to get out of the new thing, why we’re doing it, and who else benefits from it.

We also want to take some time and look at our business in a new light, asking questions we hadn’t before, seeing it through the eyes of the expert.

So here are some of those questions.

  1. What industry (or industries, if we have multiple business ventures) are we in? Do any of those industries have trends of lawsuits within them? Keeping in mind that all anybody needs in order to be sued is a business, any business at all.  
  2. What business entity do we currently operate as
    1. Sole proprietor
    2. LLC (or variation thereof);
    3. SCorp
    4. CCorp
    5. Partnership
    6. Something else
  3. Why do we use this entity?
  4. how did we come by this entity:
    1. Was it recommended (and by who?)
    2. Did we file for it ourselves?
    3. Do we have an operating agreement or articles of incorporation (depending on the entity)?
  5. What have we paid in taxes (round numbers are fine) in the past few years? 
  6. What do we DO? What do we plan to ADD / DELETE / CHANGE in the foreseeable future? How will that change our tax and/or legal liability?
  7. What is our family structure? What stage is our family in? Why is this important? 
  8. What real estate or other property do we own, rent or lease - both personally and in the business? Include vehicles, electronics, tools, etc. 

This is where we usually start and direct our conversation with clients to help them assess their needs.  Depending on how various questions are answered, there might be more questions, as this is all very contextual. 

To REALLY see this thru the expert’s eyes, reserve a time with the team to give you a hand with your assessment. We’ll meet on zoom, and take up to 60 minutes to get acquainted, and look at your business, doing a quick assessment of your risks and potential liabilities. You might even find un-used strategies to utilize in your business going forward!

  • You come out with a greater understanding of the multitude of risks that might threaten your business, 
  • a STRATEGIC plan for mitigating and managing them, and in some cases,
  • Strategies for using previously un-known opportunities hidden in your business. 

This is a $495 value, but when you reserve a time here today, it’s prepaid.