Brought to you by:
Christopher Wilcox
McCormick Klessig & Associates
PO Box 66
522 Clermont St.
Antigo, WI 54409
715-627-4302
cwilcox@mccormickklessig.com
www.mccormickklessig.com
About Our Firm:
McCormick-Klessig & Assoc., Ltd. provides individuals, families, small and medium sized businesses with complete coverage of personal and business risks in all product lines: Commercial Personal Life Accidental and Health ( including group products).
QUOTES from the Masters...
On Strategic Planning On Career/Work

"Where will you be in five years? Develop a plan, and then activate that plan to put yourself where you want to be in five years. Be sure to update your five-year plan at least annually in order to stay ahead of the game." -- Tom Hopkins

"Practice the 20/80 Rule.  The first 20 percent of the time you spend planning a project will be worth 80 percent of the time you spend on the entire project." -- Brian Tracy

"The trouble with many plans is that they are based on the way things are now.  To be successful, your personal plan must focus on what you want, not what you have." -- Nido Qubein

"The biggest waste of life is to do your job poorly." -– Brian Tracy

"The most important question to ask on the job is not 'What am I getting?' The most important question to ask on the job is 'What am I becoming?'" -- Jim Rohn


"Your work should be your passion and your love made manifest through action." -- James Ray


"A free lunch is only found in mousetraps." -- John Capuzz


  Business Briefs
Ask yourself...

If you had retired, died or become disabled yesterday, 
who would own and manage your business today?

Would you want your business interest 
retained for a family member, sold or liquidated?

 
Objective:
Retain the Business Interest for Your Family

Issues to Consider:

  • Is there a capable and willing family member?
  • Will the family member be acceptable to any other business owners?
  • How will you or your surviving dependents replace the income previously provided by your business?
  • Is there a need to equalize inheritances among family members?
  • Will there be enough liquidity in your estate to pay taxes and other settlement costs?
Objective:
Sell the Business Interest  

Issues to Consider:

  • To whom will your business interest be sold?
  • At what price?
  • And at what events (death, disability and/or retirement)?
  • What is the value of your business interest?
  • Will the funds be available to complete the purchase at your death, disability and/or retirement?
Objective:
Liquidate the Business Interest 

Issues to Consider:

  • What is the value of your business as a going concern?
  • How does that value compare to the liquidation value of your business?
  • How will you or your surviving dependents replace the income previously provided by your business?
  • Will there be sufficient funds available to allow for a planned liquidation?

The objective of business continuation planning is to assist you in evaluating which of these alternatives is most suitable for your situation and to help provide the funds that will be needed to assure that your business continuation goals become a reality.



MESSAGES from the Masters...
THE 14 ABSOLUTELY UNBREAKABLE LAWS OF SUCCESS by Brian Tracy

1. The Law of Control: You feel good about yourself to the degree to which you feel that you are in control of your own life.

2. The Law of Accident: Life is a series of random occurrences and things just happen by accident.

3. The Law of Responsibility: You are completely responsible for everything you are and for everything you become and achieve.

4. The Law of Direction: Successful people have a clear sense of purpose and direction in every area of their lives.

5. The Law of Compensation: You are always fully compensated for whatever you do, positive or negative.

6. The Law of Service: Your rewards in life will always be in direct proportion to the value of your service to others.

7. The Law of Applied Effort: All things are amenable to hard work.

8. The Law of Overcompensation: If you always do more than you are paid for, you will always be paid more than you are getting now.

9. The Law of Preparation: Effective performance is preceded by painstaking preparation.

10. The Law of Forced Efficiency: The more things you have to do in a limited period of time, the more you will be forced to work on your most important tasks.

11. The Law of Decision: Every great leap forward in life is preceded by a clear decision and a commitment to action.

12. The Law of Creativity: Every advance in human life begins with an idea in the mind of a single person.

13. The Law of Flexibility: Success is best achieved when you are clear about the goal but flexible about the process of getting there.

14. The Law of Persistence: Your ability to persist in the face of setbacks and disappointments is your measure of your belief in yourself and your ability to succeed.
 

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The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals.  The information provided is general in nature and should not be considered complete information on any product or concept described.  For more complete information, please contact my office at the phone number above.

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