Financial Planning: The Growth Multiplier for Small Businesses
Most business owners focus on revenue when they think about growth.
More sales.
More contracts.
More employees.
More expansion.
But revenue alone does not create stability. And it certainly does not guarantee long-term success.
Strategic planning for business owners is what turns growth into something sustainable.
In Episode 9 of Our Readiness Lens, I sat down with two experienced tax professionals — Denise Hanlon and Jane Watkins — to talk about why coordinated strategic planning across your accounting, tax, legal, and wealth advisors is one of the most powerful growth tools available to you.
If you want to reduce risk, prevent tax surprises, and build a business that supports your long-term goals, this conversation matters.
Listen to the podcast episode:
What Is Strategic Planning for Business Owners?
Strategic planning is not just annual budgeting.
It is the intentional coordination between:
Operational decision-making
Tax strategy
Legal structure
Estate planning
Wealth management
Long-term exit or legacy goals
Your business does not exist in isolation.
Every operational decision — from compensation to capital purchases to ownership structure — impacts your personal financial future.
When these areas are handled separately, business owners often experience:
Unexpected tax bills
Cash flow strain
Entity structure issues
Probate or estate complications
Delayed or disrupted exits
Strategic planning prevents those surprises.
The Risk of Siloed Advisors
One of the biggest themes in Episode 9 was this:
Siloed advisors increase risk.
Your accountant may focus on margins and cash flow.
Your tax advisor focuses on compliance and elections.
Your attorney focuses on contracts and protection.
Your wealth advisor focuses on investments and risk tolerance.
Individually, they are valuable.
Collectively, they are powerful.
When advisors do not communicate, business owners unintentionally create blind spots.
For example:
An S Corporation is set up and never reevaluated as the business grows.
Estimated tax payments are recommended but never built into cash flow planning.
Ownership interests are transferred without considering tax basis.
A partner passes away without a contingency plan in place.
None of these issues begin as disasters.
They become expensive because planning did not happen early.
Why Business Owners Avoid Strategic Planning
Many business owners delay coordinated planning because:
Tax conversations feel overwhelming.
Legal planning feels uncomfortable.
Estate decisions feel emotional.
It seems expensive.
They believe they are “not big enough yet.”
But the moment you:
Hire employees
Add a partner
Generate consistent profit
Purchase significant assets
You have increased responsibility.
And responsibility requires structure.
Strategic planning is not about complexity. It is about clarity.
The Advisory “Village” Model
In the episode, we discussed the idea that a business needs a strong advisory “village.”
Think of it like a three- or four-legged stool:
Accounting / Operational Advisor
Tax Advisor
Attorney
Wealth or Financial Advisor
One leg alone cannot support the structure.
Each advisor sees your business through a different lens:
Operational performance
Tax efficiency
Legal protection
Long-term wealth alignment
When those lenses are aligned, growth becomes intentional instead of reactive.
Strategic Planning Supports Both Growth and Crisis Management
Another key theme: readiness.
Strategic planning is not only about preparing for opportunity. It is also about preparing for disruption.
Markets shift.
Clients leave.
Illness happens.
Macroeconomic pressures arise.
We recently saw a growing software company shut down quickly because their financial runway was not long enough to absorb unexpected change.
Growth alone did not protect them.
Coordination might have extended their options.
Strategic planning strengthens your ability to:
Preserve cash
Adjust tax positioning
Manage debt responsibly
Protect ownership
Maintain payroll stability
It builds resilience into the structure of your business.
How to Start Strategic Planning Without Overwhelm
You do not need to fix everything at once.
Start with one area this year:
Commit to making estimated tax payments correctly.
Review and update estate documents.
Evaluate your entity structure.
Align compensation with long-term retirement goals.
Build intentional communication between your advisors.
Progress reduces risk.
Avoidance increases it.
Define the End Before You Scale the Middle
If you do not know the ultimate goal of your business, your planning will drift.
Are you:
Building to sell?
Creating a family legacy?
Scaling for acquisition?
Funding retirement?
Operating long-term for lifestyle stability?
Your answer shapes:
Tax strategy
Compensation decisions
Capital planning
Succession structure
Wealth allocation
Strategic planning connects today’s operations to tomorrow’s outcome.
Download the Strategic Readiness Guide
If you want to implement what we discussed in Episode 9, we created a resource to help you.
Download the Strategic Readiness Guide.
It walks you through:
Identifying your long-term business goal
Evaluating your advisory team alignment
Recognizing common planning gaps
Mapping your next strategic step
This guide is designed to help you move from reactive decisions to proactive growth.
Final Thought
Strategic planning is not about perfection.
It is about coordination.
When your accounting, tax, legal, and wealth advisors work together, your business gains clarity, protection, and forward momentum.
Revenue feels exciting.
Strategy makes it sustainable.
If you have not listened yet, tune into Episode 9 of Our Readiness Lens and start building your advisory village intentionally.
Because growth without strategy is fragile.
Growth with coordination is powerful.
