1. Your Personal Business Plan
Stewart S. Koesten
Founder & CEO
Joni Lindquist
Executive & Career Coach
913.345.1881
www.makinglifecount.com
Get financial and career planning tips: kcfinancialplanning.com

2. A business cannot
thrive without a
business plan!
Neither can you!

3. YOU = A BUSINESS

4. Step 1: Where are you now?
Step 2: What do you want to
achieve? (And when.)
Step 3: How do you get there from
here? What are you willing to
do?
Step 4: How do you get it done?
Step 5: How well are you doing?
Just like a business, you need a plan to
achieve your goals!

5. Where are you now?
Compile Data About Your Current Assets
Human Capital
Financial Capital

6. Human Capital:
Education + Experience + Skills
Are you………..
• On the right career ladder?
• Where you’d thought you’d be by now?
• Passionate about your chosen career?
Take the Career Satisfaction IndexTM

7. Financial Capital:
Age + Net Income + Net Worth
Do you know……….
• What you earn vs. what you keep?
• What you own vs. what you owe?
• Why you own what you own?
Take Your Investable Net Worth Test

8. Net Worth Test
• How are you doing in accumulating wealth?
(Pretax annual household income X Age)/ 10
Example:
(100,000 HH Income X 40 yrs old) / 10 = $400,000
$400,000 considered “average” wealth accumulation
Above $400,000 “prodigious” wealth accumulation
Below $400,000, “under” accumulator of wealth
Source: “The Millionaire Next Door” By Thomas Stanley and William Danko

9. Where are you now?
Human
Capital
Strengths
Human
Capital
Weaknesses
Human
Capital
Opportunities
Human
Capital
Threats
Financial
Capital
Strengths
Financial
Capital
Weaknesses
Financial
Capital
Opportunities
Financial
Capital
Threats
Complete a Personal SWOT for each ASSET

10. Case Study: Bob & Sue’s SWOT
• Couple in their 30’s
• Both with high powered jobs
• Two young children under the age of 5
HC Strengths
Successful careers
HC Weaknesses
Unfulfilling job
Bad work/life
balance
HC Opportunities
Skillsto leverage
HC Threats
Narrow experience
Work for same
company (lack of
diversity)
FC Strengths
Substantial income
FC Weaknesses
High expenses
FC Opportunities
Rising incomes
FC Threats
Lossof job
What did their
SWOT
analysis tell
them?

11. Where are you?
What would your SWOT analysis tell you?

12. Step 2: Now, what do you want to
achieve?
Dare to Dream!!
• Life Goals
• Career Goals
• Forget about others’ expectations – what
does your ideal life look like?

13. Know Your Values
What is really important to you?
• If money were no object, what would you do
in your life?
• If you were told you had only five years to live
– what would you do differently?

14. Clarify Your Goals
• S = Specific
• M = Measurable
• A = Attainable
• R = Realistic
• T = Time-Bounded
But goals don’t always need to be smart..

15. Prioritize Your Goals
• Typically there are more goals than time
or resources
• Prioritize by:
– Importance
– Timeframe
– Agreement with spouse/partner

16. Case Study – Bob & Sue’s Goals
• Envisioned a different life style
with more family time
• Both spouses still wanted careers
– But Sue saw that her “accidental” career wasn’t
fulfilling
– Dreamed of being a college professor
• The family life style more important than
current income
• Start soon while kids young

17. Step 3: How do you get there from
here? What are you willing to do?
• Analyze the gaps between where you
are and where you want to be……
– On your career path (Human Capital)
• Skills, experience, education
– On your wealth management path
(Financial Capital)
• Income, Expenses, Savings, Financial Assets

18. Resources for Planning
Human Capital - Career Path PlanTM personal
development plan
What skills/education/experience do you need?
Financial Capital - Comprehensive Financial Plan
What are you trying to accomplish with your
money?
Develop targets, timelines, budgets, investment goals,
and ensure asset protection

19. Case Study – Bob & Sue’s Plan
• Sue was not qualified for her desired profession
– Identified additional education required, location, set
timeframe targets
– Bob needed to maintain or increase his
income
• Completed financial scenarios with anticipated
changes in income and spending
– Developed new budget

20. Step 4: How Do You Get it Done?
• Begin Implementation
– Do It Yourself?
– Hire Professionals?
Consider time, expertise, knowledge

21. Case Study – Bob & Sue’s
Implementation
• Sue quit job; began education track
– More family time, less stress
• Bob negotiated telecommuting to maintain his
income
• Implemented reduced spending plan
• Relocated to support Sue’s education
• Implemented investment plan with portfolio of
moderate growth

22. Step 5:
How well are you doing?
Need periodic reviews and adjustments:
Are you:
 hitting milestones?
 making adjustments as you hit barriers?
 making adjustments as the world
changes or you change?
 implementing on a timely basis?

23. Case Study –
How are Bob & Sue Doing?
• Sue has completed education, is now a
professor
• Reviewing and updating their situation quarterly
• Generally hitting key milestones
• Faced hurdles – housing, Bob’s work situation,
relocations
• Re-adjusted action plans
• Spouses happier, less stressed; children
healthy & happy

24. Operate as if You are a Business
Build & Execute Your Personal Business Plan
1. Evaluate your personal situation
2. Set goals for your life
3. Analyze options and design a plan
4. Implement the plan
5. Monitor and make changes as
needed
Do this annually !!

25. Our philosophy…..
Making Life Count!®
Living well today while
planning for your future
Are you Making Life Count!®?
Get financial planning tips at kcfinancialplanning.com