Business Preservation
Every business evolves through distinct stages, each with unique challenges and opportunities. Anticipating these transitions ensures long-term success. Below are the key phases businesses experience and how planning at each step can help you stay ahead:
Growing Phase
As your business stabilizes and begins to flourish, you’ll rely more heavily on management teams and key players. At this stage, planning for the future becomes essential—not just for the business, but also to attract, develop, and retain top talent. Employee benefits, incentives, and succession plans play a pivotal role in maintaining momentum.
Maturity Phase
During maturity, your business may experience slower growth as it reaches market saturation or optimizes efficiency. While revenue remains steady, the focus shifts toward operational excellence, risk management, and financial planning. This is the time to streamline operations, maximize profits, and ensure your business is well-positioned for future transitions.
Transferring Stage
Whether you retire completely or continue to work during your transition, you will need a good exit strategy.
With a carefully crafted business transition plan, you can help meet your retirement goals and successfully transfer your business.
How we can help...
Every stage of your business journey presents unique challenges, and as a life insurance company, we can provide tailored solutions to protect your business, retain key talent, and secure your financial future through smart planning and strategic coverage.
KEY EMPLOYEE
Key person insurance is simply life insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business–the ones whose absence would sink the company. It is important to consider key person insurance on those people.
BUY-SELL
Without a business succession plan, the death of an owner can create problems for the business owner’s heirs and the business itself. In fact, many businesses do not survive upon the death of one of the business owners. A buy-sell agreement can help ensure the business continues after an owner is no longer around.
BUSINESS CHECKUP
When was the last time your business had a “checkup”? When was your last business valuation? Have things changed? Let our trained staff provide a free audit of your situation.
EMPLOYEE RETENTION
Multiple generations in the workforce simultaneously can make benefits a tricky issue for businesses. The key is understanding how benefits can help you attract and retain top talent by offering the right solutions for each generation.