Estate Planning In North Dakota

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Introduction to Business Planning

Our previous work on business planning included business planning and transition planning. Perhaps these web pages need to distinguish between business planning and transition planning, and then we use the Coordinating Planning Processes pages to bring the various topics together.

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We had a ten step process in the past to answer three basic questions:

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Three Questions

  • Where are we?
  • Where do we want to go?
  • How do we get there?

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See https://www.ndsu.edu/pubweb/~saxowsky/frm&agbusmgt/ref_topics/SPSummary.htm.

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Ten Steps

  1. Inventory of current operation
  2. Personal interests and skills
  3. External environment
  4. Goals
  5. Assess current arrangement relative to goals
  6. Identify an alternative to better achieve goals
  7. develop a plan to implement the alternative
  8. Risk management
  9. Tracking progress and making adjustments
  10. documenting, sharing with others, reviewing and revising

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Questions

Which of these steps need to be revised?

How do we explain that these steps are not always sequential?

Which of these steps focus on business planning and which focus on estate, transition and retirement planning?

 

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