How It Works
The Objective Review is a collection of tools designed to help you do better and bigger cases with your Clients who own Private Businesses.
The Objective Review uses standard inputs that allow you to come up with unique, high value added solutions, which we call "low hanging fruit." The goal for your Client is to gain added value for their business with the minimum effort necessary to do so. Successful implementation of an Objective Review engagement will put you in a different place and mind set with your private business owner Client.
Objective Review Outcomes
These are the outcomes we expect to have at the end of an Objective Review engagement for your Client:
- An understanding of where they are on the road to financial independence.
- A clear understanding of what their mission, vision, values and goals are as it relates to their business and personal life through their business.
- An understanding of the relationship they have with their business and their role within their business. Knowing whether they have to change that relationship and/or the roles they play in the business.
- An agreement on one to three strategic activities the business needs to move forward.
- An agreement of tactical issues the business and the owner of the business need to pursue over the next twelve to eighteen months.
The actual complexity of the case will depend on the Client and what the strategic activities are. You will be able to make a decision about who you would like to have on the team at this point going forward.
The goal of the Objective Review is to have your Client gain clarity about what they want and need to do. You Client will understand the importance of competence in helping them achieve their outcome. And, along the way, you will have many opportunities to mindfully build trust so your Client will take the suggestions you generate.
Step One - Client Screening
The first step in doing an Objective Review is deciding whether your Client is a good candidate. We’ve developed a systematic approach that helps you decide whether an Objective Review is an appropriate starting place. We do this through a free fifteen minute conversation that is part of your Stage 2 Business Solution Affiliate package.
If you and your Client decide to go forward with an Objective Review you will collect the following information:
- Three years financial statements and tax returns from your Clients.
- Personal Balance Sheet
- Personal cash flow statement
- Completed Objective Review Questionnaire
- Completed Kolbe survey
- Completed Financial DNA survey
Step Two – The support interview
After you’ve gathered the above information you will send this information to us at Stage 2. We will then schedule a phone conversation that will go for thirty minutes to one hour to get help both of us get a feeling for the Client.
Step Three – Questions are generated
After our phone conversation we will generate comments and questions that we both feel need more clarification through the Objective Review Interview that you will hold with your Client. Many of our Affiliates use this report as the basis for the Objective Review Interview that they hold with their Clients.
Step Four – Objective Review Interview
This part of the process usually takes four to six hours. We suggest you and your Client decide whether you want to do this in one sitting or two. Most of our Affiliates use the questions we generated as an outline and agenda for the meeting. You will want to ask the most important questions first as part of this process.
Step Five – Follow up Conversation
After you complete the Objective Review interview you will send your initial findings to us. We will then have a conversation with you to help you develop low hanging fruit strategic activities as well as check box tactical activities.
During our follow up conversation you will decide what if any further participation you want from the Stage 2 organization in next steps with this Client. If the Client has needs for significant planning, you may want to work with our sister company on that planning work. If the Client has sophisticated business needs some of our advanced planning might be appropriate. For the majority of your Clients, you will want to deliver and implement needed solutions without any additional input from the Stage 2 organization.
Step Six – Preparation of Objective Review Report
You will put together the Financial Blueprint and Objective Review report for final delivery to your Client.
Step Seven – Delivery of Report
You will deliver the final report to your Client and adopt next steps that are appropriate for you Client.