ALCA Member Profile: Northwestern Mutual

ALCA Pla num Sponsor: Welborn Financial &Northwestern Mutual

6 Steps to Achieve Your Vision

65% of business owners plan to re re within 10 years, yet less than 1/3 have a plan to do so.

As a business owner, you have invested �me and effort into building a business that supports not only you and your family, but many others including employees, vendors, customers, and your community. Whether it’s a few years from now or decades away, there will come a �me when you leave your business. To ensure a successful passing to the next owner, it is important to start planning now. In addi�on, customers and vendors prefer working with businesses that have a strong succession plan in place. Planning now gives those you work with condence in the stability of your business. As you build your succession plan, take control of the process and leave on your terms by following these six cri�cal steps: ONE: Start now. Only 30% of businesses make a successful transi�on. TWO: Clarify your goals. Think through ques�ons such as ‘When will I sell my business and to whom? How much income do I need? What will I do next?’. The answers will help determine the strategies you use. THREE: Build your plan. Decide whom will be the next owner though evalua�on of pros and cons; then strategize with your business succession team. FOUR: Manage your risk. A strong succession plan accounts for risks that could derail planning. For example, what if something happens to a key employee? FIVE: Value your business. Find out what your business is worth. SIX: Review your plan. The only constant is change so review your plan annually with your team.

Tax Cuts & Jobs Act Seminar January 2019

Kent, Judy, and John September 2017

For more informa on on business succession planning, please contact our team. M.Kent Welborn

Advisor since 2000 Interes�ng fact: Kent was an actor prior to planning Hobbies: muscle cars and camping with his wife and their dogs

John Hunt

Advisor since 1987 Interesting fact: John served in the USAF prior to planning Hobbies: golfing & CO fishing Learn more at: www.johnhunt.nm.com

M. Kent Welborn, CFP®, CEPA®, AEP®, CLU® | Principal Business Planning & Wealth Management Advisor 602.813.0202 | Kent@welborn-financial.com| https://welborn-financial.com/ John Hunt, CLU | Financial Advisor 602.808.3416| john.hunt@nm.com | www.johnhunt.nm.com