In 2015, my year-end column covered how to prepare an annual business plan for your organization, and focused on budgets, sales and marketing goals, and objectives for next year. But that's all about your business.

What about you? Your life is composed of both your business life and your personal life. A good checklist can be a valuable tool in identifying key issues for you to focus on. If you are an owner, principal or CEO, are you comfortable in your role? Do you feel that your employees see you as a leader, or just the boss? Use this sample checklist to examine what will enhance your quality of life and make you more effective in your business.

Your Personalized “Business To-Do” List:

Do an IT audit: How can you improve your agency system? What do you need that you don't have? Do you have an internal office policy regarding e-mail — the dos and don'ts — and has everyone read and signed it?
Review your disaster plan: Do you have a plan? Is it in writing? Who is responsible for implementing it? Have you ever done a rehearsal?
Update the employee handbook: If you have EPL insurance, are you asking for assistance with HR issues? Are you in compliance and up to date with all federal, state and local regulations?
Review your agency/company contracts, including binding authority, profit-sharing agreements, soft costs available and production bonuses.
Confirm the entity's structure: Is it an LLC, SubS or partnership? Do you know the difference? Discuss the rationale for the current structure. Should it be changed? If so, why, when and how?
Review your professional relationships: Are your CPA, attorney and consultants all providing maximum value? Are you satisfied with their performance?
Examine your producer contracts: Review terms of employment, determine whether compensation and commission levels should remain or be changed, and review termination policies, exit agreements and vesting.
Check the shareholder's agreement: Review buy/sell provisions for death, disability, voluntary withdrawal, and retirement; determine whether life insurance policies reflect current value, and if they are accurate or need to be revised, and determine whether a succession or perpetuation plan is in place.
Review all leases: Should a leasing company be formed to handle all auto, equipment and premises leases? Discuss with your accountant or attorney.
Review all vendor costs and relationships: Whether it is office cleaning, snow plowing, grass cutting, trash removal or coffee service, all arrangements should be reviewed periodically.
Rate your centers of influence: Are you receiving equal referrals to what you are referring out? Are there any new networking opportunities that you as a principal or CEO should get involved with?
Do one thing for your professional development: Do a SWOT (strength, weaknesses, opportunities, threats) analysis and assess where you can benefit most by seeking professional development.

Personal “Quality of Life To-Do” List:

Where do you see yourself in five years? 10 years?
Improve your health with nutrition and exercise.
Work with a professional to review the asset allocation of all qualified and non-qualified investments to reach specific goals.
Should you refinance your mortgage?
Review your life and disability income insurance, and consider purchasing long-term care insurance.
Review beneficiary agreements on all insurance, annuities and retirement plans.
Update your will, health proxy and power of attorney.
Initiate, or update, estate-planning needs with a tax advisor or attorney.
Analyze your net worth and compare to last year. Target future net worth objectives.
Select a target date to initiate a business exit strategy.

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Planning Ahead: This One's for You

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