.svg){kind=icon}
Financial Planning for Business Owners
What is financial planning for business owners?
Financial planning for business owners goes beyond just managing cash flow and taxes—it’s about creating a comprehensive strategy that supports both your personal and business goals. At Money Illustrated, we understand that your business is an essential part of your financial future, and we’re here to help you navigate the unique challenges and opportunities that come with being an entrepreneur.
Our financial planning services for business owners include everything from business setup and structure advice to tax strategies, retirement planning, and investment guidance. Whether you’re just starting out or looking to grow, we’ll work with you to ensure that your business success aligns with your long-term financial well-being. With our non-judgmental and personalized approach, we help you create a plan that works for both your life and your business.
The Process: Personal & Business Financial Planning
Goals, dreams & money mindset
Your financial plan is uniquely tailored to your life & dreams. As we plan, we constantly ask questions about your business, your personal finances, and all your other financial components. We'll have in-depth conversations about your biggest priorities, goals, and dreams. We'll also discuss challenges and the obstacles getting in your way. Along the way, we'll discuss your money scripts, beliefs, and mindset.
Financial Analysis
A comprehensive review of your personal & business financials, including income, expenses, assets, investments, and liabilities. Through this process, you'll gain clarity over your financial details.
We focus heavily on cash flow to make sure we're prioritizing what really matters most to you and your family.
We'll make sure you're running your business in a tax- and legally-compliant manner, making recommendations and changes along the way.
Projections
Based on where you are today, what does your financial future look like? We'll help you understand the most important actions to take today to accomplish your future goals.
We discuss opportunity costs & trade-offs based on what matters most to you, along with discussing what levers can we pull to accomplish those goals in your desired timeline.
We'll also discuss your long-term business vision: do you want to build a larger business, hire more employees, or create an exit strategy? Your unique vision will be tied to your unique plan.
Plan Presentation
You'll be presented with a customized financial plan (including a business plan), with all the steps you need to take to achieve your short-term and long-term goals.
Progress Meetings
Scheduled progress meetings ensure that you stay on track to achieve your financial goals. We'll also regularly review your finances at these meetings, ensuring your business taxes & filings are complete and accurate, along with making sure your investments are always aligned with your goals and risk-tolerance, staying up-to-date on insurance coverage and employee benefits, and proactively planning for upcoming expenses, taxes, and life changes.
Life Updates
As life inevitably changes, we'll make sure your plan always fits with the path you're on. If you get a business acquisition deal, hire a new employee, need to make insurance changes, are ready to adopt a small business retirement plan, we'll adapt your plan to make sure it never becomes stale.
