The BCSP Model™
The BCSP Model™ provides a visual illustration of the Six Components of a successful Business Continuity and Succession Plan.
Business Plan/Management System
The Business Plan is a culmination of the company’s growth and sustainability plan, its operating system (such as EOS® or other equally effective system), and its financial resources. Diagnostics of company health is evaluated in this plan.
Business Continuity Plan
A Business Continuity Plan answers the question, “What if _________?” What happens in the case of an untimely death, disability, divorce, disagreements, etc. of one of the business owners. Elements of the Continuity Plan include buy-sell agreements, insurance, etc.
Business Succession Plan
Who will manage and/or own the company in the future? The Business Succession Plan addresses these issues in addition to how the business is to be governed.
Personal Financial Plan
The Personal Financial Plan will assist exiting owner(s) ensuring they will be financially secure for the rest of their lives before they retire/sell their business interest. This is the plan to determine how an owner exits the business.
The Estate Plan helps determine what will happen to a person’s “stuff” upon their death. A plan is designed to minimize taxes and avoid selling the business to pay tax liabilities.
The reviews each of the five Plans to ensure the Business Continuity and Succession Plan stays current as time goes on and events happen.