Where Do You Begin?

Planning for a successful future can seem overwhelming. Where do you start? How do you make time? Which questions should you ask? Today, we’ll present a process that can help you organize your thoughts and put you on a path toward a successful planning process.   

The Most Important Starting Point  

While the intricacies of your business will determine the specifics of your planning, there is a common starting point when planning for a successful future. The most important question to ask and answer is:  

What will it take for me to achieve financial independence? 

This baseline question will likely guide every strategy you create and implement in your business as you pursue a successful future. Once you know what it will take for you to achieve financial independence, you can begin answering questions like:  

  • Is my business worth enough right now to achieve that number?  
  • How long will it take me to reach this number?  
  • What do I need to do to make sure my business is valuable enough to allow me to achieve financial independence?  
  • How can I sell/transfer my business in ways that allow me to hit my financial independence goal?  
  • Which advisors can help me create and implement plans?  
  • What should I do if I don’t have enough money to retire when I originally planned?  

Of course, this raises a question itself: How do I know the amount I need to achieve financial independence? 

Finding answers to what the amount is and how to determine it, is a key skill of an Exit Planning Advisor. These advisors then collaborate with other industry experts to help you determine your financial independence number using various data points (e.g., current spending, lifestyle expectations, likely life span).  

Clarifying Goals  

While determining what it takes to achieve financial independence is the most important goal, clarifying other goals is crucial to your success.  

Some of these goals may include the following:  

  • How much money do you want after you sell/transfer your business (different from what you need)?  
  • To whom do you want to sell/transfer your business?  
  • How involved do you want to stay in the business after you leave it (e.g., do you want to be a board member)?  
  • Do you have other people you want to take care of financially, such as children or grandchildren?  

Planning for a successful future often includes strategies to achieve the things you’ve always wanted to do. It can also give you a chance to guide your business toward a successful future without you.  

For instance, you might find that selling to a third party allows you to achieve most of your goals but that the third party intends to reduce headcount drastically, which you don’t want. A strong plan could allow you to pivot towards a different strategy that doesn’t force you to commit to something you absolutely do not want.  

Making Time  

If you’re looking at the above questions and thinking, “How can I ever make time to do all this?” You aren’t alone! Fortunately, there is a way.  

First, planning for a successful future is a long-term project. While beginning to answer questions about planning can begin early, the strategies you implement could take months or years. So, you don’t need to feel like you need to have everything solved all at once.  

Second, you typically won’t need to build the entire plan by yourself. Planning for a successful future is an intricate process that usually requires several different experts. By building an Advisor Team, you can access the experts you may need to build and implement a plan. This could be made easier with the help of an advisor experienced with Exit Planning because they often have access to these experts as a part of their network, which can reduce the time it takes to find them.  

Finally, planning tends to have a cascading effect. When you have a Team led by an experienced Exit Planning advisor, they can begin crafting the strategies you need to implement. One of these key strategies will likely be installing next-level management. Next-level management often takes on the heavy lifting you’ve been doing in the business, which can free up your time.  


We strive to help business owners identify and prioritize their objectives with respect to their businesses, their employees, and their families. If you have questions on this topic, we can help with more information or a referral to another experienced professional. Please feel free to contact us at your convenience.  

Imagine a world where your financial advisor, attorney, accountant, insurance specialist, and property/casualty advisor all worked together, like a board of directors on your behalf. This is the type of Collaborative Advisory Team approach we take in our practice. For many driven entrepreneurs, executives, and high-net-worth individuals, a Collaborative Advisory Team of professionals is the most effective and efficient way to achieve your optimal financial world. At Moneta, we’re reinventing the way you experience wealth management.

The information contained in this article is general in nature and is not legal, tax or financial advice. For information regarding your particular situation, contact an attorney or a tax or financial professional. The information in this newsletter is provided with the understanding that it does not render legal, accounting, tax or financial advice. In specific cases, clients should consult their legal, accounting, tax or financial professional. This article is not intended to give advice or to represent our firm as being qualified to give advice in all areas of professional services. Exit Planning is a discipline that typically requires the collaboration of multiple professional advisors. To the extent that our firm does not have the expertise required on a particular matter, we will always work closely with you to help you gain access to the resources and professional advice that you need. 

This is an opt-in newsletter published by Business Enterprise Institute, Inc., and presented to you by our firm.  We appreciate your interest. 

Any examples provided are hypothetical and for illustrative purposes only. Examples include fictitious names and do not represent any particular person or entity. 

© 2024 Advisory services offered by Moneta Group Investment Advisors, LLC, 100 South Brentwood Blvd., St. Louis, MO 63105 (“MGIA”), an investment adviser registered with the Securities and Exchange Commission (“SEC”). MGIA is a wholly owned subsidiary of Moneta Group, LLC. Registration as an investment advisor does not imply a certain level of skill or training. The information contained herein is for informational purposes only, is not intended to be comprehensive or exclusive, and is based on materials deemed reliable, but the accuracy of which has not been verified. Examples contained herein are for illustrative purposes only based on generic assumptions. Given the dynamic nature of the subject matter and the environment in which this communication was written, the information contained herein is subject to change. This is not an offer to sell or buy securities, nor does it represent any specific recommendation. You should consult with an appropriately credentialed professional before making any financial, investment, tax, or legal decision. Past performance is not indicative of future returns. You cannot invest directly in an index. All investments are subject to a risk of loss. Diversification and strategic asset allocation do not assure profit or protect against loss in declining markets. These materials do not take into consideration your personal circumstances, financial or otherwise. Trademarks and copyrights of materials linked herein are the property of their respective owners. 


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