Financial Planning For Entrepreneurs

As an entrepreneur, you have to take care of two different kinds of financial planning – business and personal. This is because, as an entrepreneur, your personal and business finances are connected.


The purpose of a financial plan is to help you take stock of where you’re at financially today, as well as think about what you want to achieve in the future.

The benefits of making a financial plan go beyond putting a plan in place to reach your financial goals. With a robust financial plan, you’ve now got your finances organized, know what truly matters to you in life, and have a handle on your current and future financial needs.



What should my business financial plan work on?

When you own a business, you want to preserve your business value and plan for your company to grow.

For the Preservation part of your plan, you must think about the following:

  • How to invest excess cash. You can put excess cash into your business or invest it outside your business.
  • How you’ll handle risk management and insurance planning. You must identify any potential risks to your company, how those risks could impact it, and how insurance can provide your business with financial protection.
  • Succession and exit planning. You need to have a solid plan for transferring leadership or ownership of your company to others. 


With the Growth part of your plan, you need to focus on the following:

  • Appropriately handling your day-to-day cash flow and putting together a strategy to pay off any debt you have.
  • Robust tax planning focuses on finding tax efficiencies and ensuring you use all tax credits and deductions you’re entitled to.
  • Putting together a strategy that helps you retain and attract key talent can include options such as an extensive benefits package or yearly bonuses.

What should my personal financial plan focus on?

When it comes to personal financial planning, you need to think about how you will accumulate wealth and how you will protect your wealth.

For accumulation, you need a solid handle on cash management (savings and debt), efficient tax planning, and an investment plan.

To protect your wealth, you need the right insurance (such as life insurance, disability insurance, and health insurance) and a solid estate plan that includes a will and power of attorney.


The financial planning process works as follows. When you come to meet with us, we’ll

  1. You meet with us. We’ll establish a relationship with you and gather information about your current financial situation and goals.
  2. Put together an analysis of your current financial status, and develop a strategy to help you achieve your personal and business goals.
  3. Implement our recommendations, continually monitor them, and adjust them as necessary.

How can I get started?

Reach out to us today to book a meeting to develop your financial plan!

How can I get started?

Book a meeting with us today to develop your financial plan!