Are you a small business owner? If you are, you're part of a growing trend of individuals who just can't sit still. You’ve been frustrated by working for others, or have been forced into making the decision to go out on your own. 

  You've done your homework, started a new business from scratch, have been handed down a business by someone else, bought out a business, or bought some form of franchise operation.  You place your trust in your accountant and your lawyer for professional advice.  Your banker has taken you through the financing steps, and allowed you to expand to new levels because you've obviously proven that you are a good risk.  You've built your framework for the company.  You're feeling great about your accomplishments and now have concerns about your future planning. 

  Often business owners do not step back and really take time to figure out the answers to some very important questions.   You are the heart and soul of the operation.  People see you as successful, a great advocate of other entrepreneurs.  Then tragedy strikes.  While working overtime to meet a deadline, you suffer a life-threatening event.  Stroke; Cancer; Heart Attack, or you're on your way home and die in a car accident.  Business either stops, or continues without you, so what happens next? 

  Think about it.  Most individuals that are healthy often think it will never happen to them.  Trust me, over 21 years; I've seen planning the right way and the wrong way.  Is there enough money for your spouse to continue the business the next day, or to buy out the estate of your partner in business?  Is your replacement knowledgeable and qualified to run it?  Chances are you haven't given this one much thought. 

  Your financial advisor should be trained in several broad areas of planning including your estate, retirement, and risk management.  It only takes one second to have your life change.  We think nothing of a few hours out of our day for the dentist, doctor, lawyer, and accountant.  Taking the necessary steps to risk manage for the risk of death, disability, and savings for our retirement are key's to independence, and if you don't want to do them, that's ok, you transfer the risk to your family instead.  If you really deeply care about what you've worked hard to build, talk to your financial advisor.  We are advocates of small business, we are small business owners ourselves, and can take the headaches out of your financial planning.  

  Darren Butt is an independent financial advisor, with over 21 years business experience as an entrepreneur.  He owns Muskoka Financial Inc. and is affiliated with IQON Financial Inc. He works from his office in Bracebridge Ontario.  Check out www.muskokafinancial.ca or call him at 705-645-8484.