Long-Term Planning

Six-Year Plan Preparation Checklist

Longer term planning can seem to be a daunting task. Use the following checklist of the main topics to keep heading in the right direction.

Develop a clear business direction that focuses on maximizing the value of your business within the next 6 years

  • Start with aspirations - Develop of what you want for yourself and your business and what the business could be
  • Extend your time horizons to get beyond "business as usual" - Understand the levers that add value to your business
  • Integrate business goals and stakeholder interests to determine direction

Based on your direction, think through the following Six-Year Plan elements

  • Competitive Strategy — Refresh or revitalize your competitive strategy with an eye toward economic, market or company circumstances that arise or may be a potential in the future
  • Growth Strategy — Consider that growth requires very different capabilities and resources depending on whether you plan to grow organically or through mergers and acquisition
  • Divestiture Strategy — Look for divesture possibilities understanding that refocusing capital, resources and energy on your best opportunities lead you to attainment of your goals
  • Capital/Leverage Restructuring Strategy — Revisit your weighted average costs of capital to optimize the debt/equity mix based on current business plans and market conditions
  • Ownership Plan
    • Consider all successor options, such as family, current management or newly recruited management
    • Plan ahead for personal wealth and retirement by talking to advisors who understand business owners and their specific needs
  • Value Maximization — Anticipate that many of the business development options you will consider — selling all or part of the business, transitioning to management, employees or family members; recapitalizing; etc. — will require a transaction based directly or indirectly on your business’s value

Document your Six-Year Plan

  • Create a succinct written plan to help in every aspect of planning and execution including goal setting, budgeting, securing financing or preparing for a sale/transition

Involve your SunTrust Relationship Manager in your plans

  • Make sure all parties who are vital to your business — including CPAs, attorneys, financial advisors and your SunTrust Relationship Manager — are actively engaged in creating and supporting your plans
  • For more Six-Year Planning information, visit suntrust. com/sixyearplan on the SunTrust Resource Center

This content does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.


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