Most families who own a family business are so busy working in the business that they never take the time or have the time to work on the business or the best manner for debt cancellation. They spend little time thinking about the successful transfer of the business or the continuity of keeping the business running successfully once the parent dies. Many items on this list are also some of the critical elements which are unfortunately ignored as the business expands! Is your net revenue increasing or are you just running a lot of money through the old cash register? It's what you keep that counts! Privatized Family Banking (PFB) is the answer for building a private retirement program without including any of your employees! Is your net revenue increasing? What produces your profits? Capital Equipment Talented people Which is most important? Measuring business value Funding succession plans Arranging debt cancellation Reducing transfer taxes Executing realistic solutions Identifying family opportunities Ownership and control Debts: bank or family Debt-related questions Estate plan arrangements CEO's retirement funding Alternatives to be evaluated. There are some critical elements that a family business should consider:
1. Is your net revenue increasing? 2. What produces your profits? 3. Capital 4. Equipment 5. Talented people 6. Which is most important?
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