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How to Build an Efficient Planning Process With Other Advisors

Submitted by John Brown on Fri, 01/31/2020 - 9:00am
A group of 8 people sitting around a wooden table

Everyone loves process efficiency. It makes everything easier, smoother, and often more lucrative. Advisors to business owners certainly understand the value of having an efficient planning process. Business owners are busy people. They want things done right and quickly. Advisors who can help them plan without taking too much time from them are the ones they want to work with. So, what can advisors do to create an efficient planning process with other advisors, and why do they need to work with other advisors at all? Let’s find out.

Why work with other advisors at all?

One of the nuances of helping business owners plan for future success is the necessity of teamwork. No single advisor can possibly handle all of the work necessary to create a plan for an owner’s future success. There are too many moving parts. From value building to tax minimization; deal negotiation to incentive planning; and everything else in between, business owners will need several different experts at different stages in their planning to have success.

Consider the kind of planning these owners are doing. They’re trying to turn their lives’ work into the cash they’ll need to achieve their dreams. That’s a huge proposition. They want assurance that the advisors helping them do that either know what they’re doing or know how to find someone who knows what they’re doing.

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Advisors who commit to helping business owners with this planning fulfill those two wants. First, they use their own expertise to address planning issues related to their expertise. Second, and more importantly, they can call on other advisors who are experts in the things they are not. This assures that the best expert for the job does the job, making it more likely that the plan will be a success.

That’s the why behind working with other advisors. So, how can an advisor make the planning process with other advisors as efficient as possible?

Define the process from the outset

There are no one-size-fits-all processes for planning for a business owner’s successful future, but there are guidelines. For instance, a proven way to establish an efficient process is by determining what the owner wants to focus on first. Some want to focus on building value first. Others want to have a succession plan down pat. Each owner will have an idea for where they want to start, and it’s up to advisors to be amenable to their wants.

Defining the process can be a challenge with so many idiosyncrasies to consider. BEI invented the process that lets advisors define the process while still addressing the uniqueness of each owner’s wants and needs. It starts when advisors determine the owner’s objectives, resources, and ideal path. It then moves through the recommendations phase, followed by the finalization and implementation of the plan.

At its core, this process is owner centric. It works to achieve the owner’s goals alone. Advisors who work to create and implement this plan must fully understand and adhere to this fact to work most efficiently toward this goal.

Keep all advisors on the same page

The more people involved, the more likely it is for miscommunications, misinterpretations, and shirking of responsibilities to occur. To assure the highest efficiency, the lead advisor must keep all advisors on the same page. This not only makes the process proceed smoothly but also increases the value that the lead advisor and Advisor Team provide to the business owner.

BEI created a software platform that keeps all advisors on the same page. The Exit Plan Implementation and Creation (EPIC) software is a versatile repository for everything related to planning for a business owner’s future success. Foremost, it shows all advisors what they need to do to achieve the owner’s goals, when they need to do those things by, and who is responsible for each task. This prevents important tasks from falling through the cracks.

Secondly, EPIC’s algorithms combined with the information advisors gather about the owner produce proven recommendations to help owners achieve their goals. So, if an owner says that their biggest goal is to build business value, the advisors can enter all relevant information about the business into EPIC and produce countless recommendations for how to do that, based on the business’ current status and the owner’s desires.


  • Having an efficient planning process with other advisors is crucial to creating a successful plan for a business owner’s future.
  • Advisors who can define a planning process that speaks to each owner’s unique needs bring immense value to those business owners.
  • BEI has tools and software to help advisors provide fitting recommendations for owners’ needs and keep all advisors on the same page throughout the planning process.

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