Financial Planner Meeting

Today we had our bi-annual meeting with our financial planner, Jim, to discuss our personal finances.  These meeting are always wonderful.  We have a good relationship with him and we always have great discussions, even outside of the realm of our finances.  He started our meeting picking our brains for advice on how to cook the perfect steak.  I know, every man thinks he has the magic key to cook when it comes to a grill, but they have nothing without a Big Green Egg.

Meet the Family

Meet the Family

I speak the truth.  We have been to so many prestigious steak houses and I can’t say those places aren’t good, but it is extremely hard to replicate it at home.  You need something that can get MEGA HOT, like 900 degrees, and the Egg can!

show me the money

Great movie.

So we told him about our Egg and our experiments with a variety of foods on it, from baking goods to smoking meats to searing steaks.  At the end of our meeting he said I gonna buy a Green Egg today!  I am not kidding when I say this is literally the 5th Big Green Egg we have sold, we are not a dealer so we didn’t actually sell them, but really we should totally be making some commission by now!

Aside from all our talk about the Egg we spoke briefly about the status of the business.  We are both a little disappointed with the launch of this business, it just seemed like there was no fire to get the ball rolling.  Purchasing equipment was a big hold up, actually it was the main reason we could not do anything.

Jim is a great person to get you fired up about something you are passionate about.  I don’t know if he is excited for the prospect of us making more money, which he would be in charge of so he would make more money?!?  Or that he is genuinely excited to get this business on the roll because he believes in us and wants us to succeed.  I am pretty sure it is the latter.  So when we left the meeting I was, of course, super pumped up about next season!

The main purpose of this meeting was to review of finances and make sure we are on the same page with what he is doing for our money.  All of our stocks are doing well and we are planning for retirement at a moderately aggressive pace.  He had some minor suggestions for the transfer of various stocks to maximize our pay-back  other than that everything was good.  We are at the time in our life when we are considering children and he suggested we start contributing to a 529, Louisiana’s College Savings Plan.  It is apparently one of the best in the nation, can’t say that too often in Louisiana…so we’re proud!  If you need more information the link is below.

https://www.startsaving.la.gov/savings/overview.jsp

I have been reading many blogs lately on business, start-ups, inspiration, and personal wellness.  All of them are related in some way, in the big picture.  Today, I found myself googling local business competition in our area and saving their websites to my bookmarks.  I think it’s a good idea to check-in on the competition from time to time, so why not make it easier for me!

Whenever I’m at the computer for no real reason I, of course like many others, end up on Pinterest.  While staring blankly at my Pinterest feed, scrolling in a zombie like fashion, I stumbled upon a wonderfully insightful blogger.

Portrait of pretty young business woman smiling

I was particularly interested in her post about the 10 skills you need in business.  I have seen post like this a number of times.  It’s like everyone basically says the same thing over and over again with different pictures to get you to keep reading.  I like her though, she seems real.  I’m pumped up about everything she has wrote.  I want to take the reins and jump into the business again with full force.  So I have decided to do everything I can to make these guys successful for next season.  I need to get all the planning done ahead of time so they are not worrying about what event is coming up soon.

Advertisements

Business plan editing, #1.

Today my husband and I met with our financial man to discuss what he thought about our business plan’s rough draft.  When we got to his office we had some small talk first, as usual.  We have a great relationship with our financial advisor, which I think is key to really trusting someone with all of your money and life savings.  He was telling us about his business partner just got a hover craft and rigged it with night vision cameras to scope out his hunting property for game.  I think this is pretty genius but is also kind of cheating, but I don’t hunt so I really don’t care.  Then we started getting down to business.  He took out his copy of our business plan and I felt sorry for the poor paper…it was covered in markings, like my English 101 papers in college, YIKES!  He tore that thing up!  He started by telling us that it really needs to have more “business professional” terminology.  Most people write how they talk, us included, and that’s just not how you want to make a good impression on a person you will be convincing that your business will succeed.  He gave us some great advice on how we can improve it and reassured us that it’s not wrong and it will never be complete, exactly.  A business plan is used to set guidelines, or perimeters, to help us keep our business on a specific path.  Business plans are necessary, especially when partners are involved, to help everyone stay on track.  We have already seen how easy it is to deviate from the plan, but we revisited our original plan and decided it was best to stick with that.  A business plan is a living-document that outlines a businesses plan to growth over periods of time.  Our financial advisor said that most businesses take 6 months to finish fine-tuning their business plan and even after that it can still be adjusted or edited.

When writing a business plan there are some great resources on the web.  You can find samples to meet what you want for your own plan.  After writing your business plan, have someone read it for you that has no part in your business and who doesn’t really know much about the topic or industry.  Tell them to ask you any questions they have after reading it, those questions are the part you will need to fix.  Chances are the people who will be reading your business plan; lawyers, CPAs, banks, and investors, will have the same questions.  If you can clear up all those questions before you approach those people they will be more likely to understand exactly what you plan to accomplish and be willing to assist you.

After you get a few friends to read your plan and you make the necessary changes, get someone with an English background to help you with the grammar and business-ees.  A great low-cost option is to head to a nearby college or university and get an English major to work for you with this small task for a little money.  What college student couldn’t use some extra cash?