Business Ownership

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Business Ownership

Business owners have financial planning needs that are often considerably more complex than those required for an individual. The complexity stems from the ownership of a closely held business, managing employees, creating succession plans, mitigating taxes, optimizing the value of the business, and training the next generation of leadership. Business ownership involves not only the day-to-day operations but also strategic planning for long-term success.

The StoryOne approach to advising business owners

We understand that, as a business owner, you spend most of your time and energy running and growing your business. Because this can take your attention away from making strategic long-term decisions, your StoryOne team coordinates the long-term strategic considerations unique to your business.

For business owners, balance sheet optimization is a critical aspect of strategic planning. The optimization process involves managing assets, liabilities, and equity to maximize the company’s financial health and efficiency. By carefully analyzing the balance sheet, our skilled advisors can identify opportunities to improve liquidity, reduce debt and enhance profitability—while enabling you to reduce or shield yourself from personal liability as you mitigate taxes. This may involve strategies such as refinancing debt, renegotiating terms with suppliers, optimizing inventory management practices, reorganizing the business, recapitalizing the business, and improving accounting practices.

Benefits

Balance sheet optimization is essential for maintaining financial stability and positioning the business for growth and maximizing the owner’s benefit.

Your StoryOne team can guide you through the many considerations needed to select the entity that best aligns with your mission and goals.

By proactively planning for succession, business owners can minimize disruption and maximize the value of their businesses for themselves and future generations.

Strategic coaching can help business owners enhance their leadership skills, make informed decisions, adapt to changing market conditions, increase their long-term opportunities, and, ultimately, drive long-term success. Exit planning is a crucial consideration for business owners who are nearing retirement or considering selling their business.

By planning ahead and engaging in proactive exit planning, business owners can maximize the value of their businesses and achieve more advantageous outcomes for themselves and their family.

The StoryOne approach to managing charitable giving and philanthropy

We work closely with you to identify the gifting strategies that support your vision and values, while providing strategic financial advantages that help you further grow your business.

By strategically timing and structuring charitable gifts, individuals can minimize tax liabilities, support causes they care about, and leave a lasting legacy for future generations.

Planned giving offers flexibility and control over the timing and impact of charitable gifts, providing a powerful means to make a positive difference in the world while also achieving personal and financial objectives.

The StoryOne approach to charitable gifting strategies

Our team of trusted advisors can provide valuable guidance and expertise in navigating the complexities of charitable giving and ensuring that philanthropic efforts align with broader financial and estate planning goals.

Start your StoryOne Chapter Today

Contact us to see how our personalized, story-driven approach to wealth management can guide you toward achieving your financial goals.

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