Business context. Personal priorities.
A firm built on people and relationships needs a plan for how those strengths continue beyond its owner.
A place to begin
Use these guides to prepare questions for professionals familiar with your industry.
Key person protection prepares a business for the loss or extended absence of someone whose work, knowledge or relationships are difficult to replace. The person may be an owner, manager or specialist. Start with the work that must continue, then consider leadership backups, documented processes, cash reserves, retention measures and appropriate insurance.
A buy-sell agreement sets rules for an ownership transfer when an agreed event occurs. It can address who may buy, how the price is determined, how payment works and what happens during the transition. The agreement and its funding need to work together. Having a signed document does not, by itself, mean a future purchase will be affordable.
A retention strategy connects the reasons important people stay with the value they help create. It may involve compensation, career growth, decision authority, workplace conditions or long-term awards. Start with the employee and business problem. Then compare arrangements that the company can explain, administer and afford, including what happens when someone leaves.
A business valuation is an informed opinion of value for a particular ownership interest, purpose and date. It helps turn an uncertain number on your personal balance sheet into a question you can examine. A useful valuation explains the reasoning and assumptions behind the result. It is not a promise that a buyer will pay that amount.
A company retirement plan is both an employee benefit and part of the owner's personal wealth plan. Choosing one means comparing contribution opportunities with employee costs, cash-flow commitments and administration. Start with the people and business you have today, then consider how hiring, profits and ownership may change.
The best exit path depends on what you need the transition to achieve. A family transfer, a sale to employees and an outside sale can produce very different outcomes for control, cash, timing and the people involved. Compare those outcomes before narrowing the discussion to price or a favored buyer.
Hypothetical illustration · Not a client story
Consider an owner who wants to spend less time in the business. The conversation starts with who can take responsibility, how cash flow might change and what the household needs. A valuation alone would not answer all three questions. The team first agrees what information to gather and who will assess each part.
Your next step
Tell us about your business and priorities. We review your application for a possible introduction to a participating advisor. You decide whether to proceed.
Participating advisors fund the introduction model. Compensation and conflicts.
Content reviewed: October 20, 2026 · General education
Educational information only, not personal financial, tax, legal or insurance advice.
