Part 7: Planning
22
1 Part 7: Planning
description
Part 7: Planning. Planning. Business Size and Growth. Retirement Plan. Business Plan. Succession Plan. Accounting. Accounting. “ Know well the conditions of your flocks, and pay attention to your herds; for riches are not forever ” (Proverbs 27:23-24) - PowerPoint PPT Presentation
Transcript of Part 7: Planning
1
Part 7: Planning
2
Planning
•
Business
Plan
Retirement
Plan
Succession
PlanAccounting
Business
Size and
Growth
3
Accounting
• “Know well the conditions of your flocks, and pay attention to your herds; for riches are not
forever” (Proverbs 27:23-24)
• My business has adequate accounting.
Yes or No
4
Planning
•
Business
PlanAccounting
Growth
Plan
5
Business Size and Growth
a. Personal Issues1) Am I growing to become rich?
2) Am I compromising?
3) Am I driven by pride?
4) Am I in balance?
5) Am I content?
6
Business Size and Growth
b. Business Issues
1) Do you have adequate capital to expand?Yes or No
2) Do you have the time and capacity to expand?Yes or No
3) Do you have enough capable and trustworthy staff to expand?
Yes or No
7
Business Size and Growth
b. Business Issues
4) Do you have adequate systems and processes to control growth?
Yes or No5) Do you and your spouse agree on growing the
business?Yes or No
8
Planning
•
Business
Plan
Retirement
Plan
Accounting
Business
Size and
Growth
9
Retirement Plan
a. Retirement is a biblical principle. T or F
b. Is retirement necessary? Yes or No
c. Is retirement acceptable? Yes or No
10
Retirement Plan
d. Is retirement being funded at the expense of your other goals?
Needs of employees Needs of family Survivability of business Giving
11
Planning
•
Business
Plan
Retirement
Plan
Succession
PlanAccounting
Business
Size and
Growth
12
Succession Plan
a. Heirs should be trained
“Train up a child in the way he should go, even when he is old he will not depart from it” (Proverbs 22:6)
According to this verse it is
important to train your heirs properly.
T or F
13
Succession Plan
b. Heirs should be participants• “When there is a man who has labored with
wisdom, knowledge and skill, then he gives his legacy to one who has not labored with them. This
too is vanity and a great evil”
(Ecclesiastes 2:21)
• According to this verse an heir should be an active participant in your business.
T or F
14
Succession Plan
c. Death is a certainty
“He sees that even wise men die; the stupid and
the senseless alike perish and leave their wealth to others. Their inner thought is that their houses are
forever and their dwelling places to all generations; they have called their lands after their own names”
(Psalm 49:10-11)
15
Succession Plan
d. Your spouse is your counselor and heir
• “For this reason a man shall leave his father and mother and shall be joined to his wife,
and the two shall become one flesh.”
(Ephesians 5:31)•
16
Planning
•
Business
Plan
Retirement
Plan
Succession
PlanAccounting
Business
Size and
Growth
17
Suggestions for Planning
a. Set a specific date to start the process.
b. Select a site. Away from the office Enjoyable place Eliminate distractions (phones, pagers, etc)
18
Suggestions for Planning
c. Select a structure for your planning session.
Involve God Make an agenda Accumulate your facts and materials
19
Suggestions for Planning
d. Schedule future planning times.
Periodic evaluations Make adjustments Add new items as needed Delete non-value added items
20
Planning
Principle
Planning is essential to making
wise business decisions.
21
Planning
Testimony
Page 71 & 72
EVALUTIONS
22
