Business Financial Planning
When people talk about financial stability of a business, it usually revolves around the words profit, assets, and operations. In most cases, financial planners are only sought after for present needs such as getting group benefits and implementing debt repayment plans. But there is so much more value a business can get from having the suitable business financial plan.
A good business financial plan lays the foundation that guides your focus as your business thrives. There are a lot of benefits a business financial plan gives, such as discovering a clear company vision, analyzing risk exposures within your business and ways to improve within the financial boundaries of your business. Most importantly, it allows ample room for risk mitigation and crisis management during turbulent times.
Flip My Business helps clients by designing sensible cash flow management and smart budget allocation, designing tax efficient and risk reduction solutions, and formulating suitable retirement and succession plans.
Financial Planning
Flip My Life believes in the importance of understanding the growth of a business on top of its financial and operational aspect. That each business phase has distinct needs to focus and address. With this, Flip My Business financial plans are curated to your business phase for a better business financial plan.
Buy/Sell Agreements
Like marriages, business partners start off wanting to be together for a long time, maybe even forever. Unfortunately, not all business partners stay together forever and they do “break up”. Some end on good terms and others, not so good terms. There are many reasons why business partners separate and if not planned properly, these reasons may have a negative impact on the success of your business.
Your business can suffer if one partner dies, or leaves due to a permanent disability, retirement, bankruptcy, divorce or an unresolved dispute between business owners. A Buy/Sell Agreement outlines how to handle a death, disability and retirement of one of the owners, including disagreements about ownership and operation of the business when an owner wants to leave the partnership.
Key Person Insurance
How valuable is each member in your team? What impact will your business have if your most valuable member doesn’t show up for work? These are the questions that most business owners don’t think of until it’s too late. It’s important for businesses to identify and protect their key person(s).
Key person insurance helps your business financially recover from the loss or disability of an employee or partner who played a significant role in your business. Benefits can be used for hiring new talent, paying off debts, loss of business income or cover any other financial burden that resulted from losing your key person.
Flip My Life will help you protect one of your most valuable assets and give you peace of mind that your business will be financially covered.
Business Succession Planning
A business exit strategy is like the blueprint of its future. It gives you a goal to envision for, it acts as a metric of your success and it strengthens your vision for your life beyond the business. This may be your retirement or you may simply want to leave the business to do something else. What does that look like, how much does it cost and how do you implement this? All these questions can be answered with proper business planning. If you fail to plan for your business succession, you are taking away the guidance that your business needs to adapt to any sudden change in your business.
Group Benefit Plans
Your employees are the lifeblood of your business. They determine your business productivity, profitability, and ultimately your long-term stability. Hence, there should be emphasis on the importance of taking care of your employees not just in the present, but also in the future. This can be accomplished by giving you and your employees the peace of mind with a group plan. A good group health and dental plan means that employees don’t go out-of-pocket for health and dental expenses.
What We Offer:
- Group Life Insurance
- Prescription Drugs
- Dental Coverage
- Accident Death & Dismemberment
- Extended Health Care and Paramedical Practitioners
- Health Spending Accounts
