30-60-90 DAY TASKS

Once gaps in the Exit Planning process are identified, setting goals and processes to achieve those goals is paramount to a successful Exit.  Running a small business is challenging enough without adding more to your “TO DO” list.  However, it is crucial that any deficiencies in your wealth, your personal preparedness, and the readiness of your business be addressed. Utilizing a 3-60-90 day SMART goal setting matrix is one way to assist you on your journey to your Exit.

Setting SMART goals allows you to work on your important tasks with clarity, focus and efficient use of your time with an increased chance of success.  Identifying the “low hanging” fruit and having initial success with your Exit Planning goals will help you start and maintain momentum needed to realize your desired outcome.  Setting realistic, achievable goals without overwhelming your current day to day responsibilities will help.

This tool is set up for you to identify, indicated what needs to happen at different stages and allows for an evaluation of the tasks completeness.

Here is an example:

Goal/Task—Identify and document personal information

30 Days—Identify all pertinent information, e.g. lock box number and keys, will, bank accounts numbers and locations, life insurance policies, etc.

60 Days—Complete on document with all details of pertinent personal information, e.g. locations, person in charge, contact info of providers, etc.

90 Days—Inform responsible parties of duties and location of documents

Evaluate—Was task/goal completed satisfactorily

Concentrate on one or two tasks for each area of concern.  Too many tasks generally result in incomplete work and nothing being finished at all. No more than 4-5 task should be attempted every 90 days.  You still have a business to run.

This is an ongoing process until you are satisfied with your preparation to Exit.