Business Intelligence
His second key is about the challenges and risks around ownership both for the sole trader and when other partners are taken into the business. He highlights the fact that if the business owner is not aware of what can happen here and so does not bullet-proof the business against unforeseen and unexpected events, the consequences can be dire for the business.Ensuring that the wealth created in your small business ultimately ends up in the hands of the people it is meant for is Daryl's third key. He demonstrates how so often lack of awareness, naivety or lack of planning sees the money, the business owners have spent their lives earning, ending up in the hands of people for whom it wasn't intended.Setting up a personal wealth management plan independent of the business including an estate plan, demonstrating the bullet-proofing this gives the family finances, is the fourth key in the book.The last chapter of Daryl's book is on how you can create your own Do-It-Yourself Financial Plan to bullet-proof your business. No one wants to face the trauma of bankruptcy or the collapse of the business into which they have put so much of themselves. That can have a devastating impact, both emotionally and financially.any of you reading Daryl's book, and having your eyes are opened to the vulnerable position your own business is in, may not have the confidence to take the action you need to bullet-proof your business. What the book does is highlight the enormous value that good financial planners can be to small business owners and their families in assisting them to do that well, covering all bases and possibilities. They can provide the expertise that ensures that your small business will provide a financially successful future for yourself and the important people in your life.
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