A quick-start checklist and reflection tool for turning your business into a transferable asset. Compiled by moi after several very expensive soul-searching hours with my very own lawyer. Bring these notes to yours to help you revise or draft your Operating Agreement.

1. Business-as-Asset Audit

Ask yourself:

• ☐ Is there profit?

  Not just revenue—do you have money left over after expenses?

• ☐ Is there recurring business or predictable demand?

  Think referrals, retainer clients, or seasonal bookings.

• ☐ Are there systems and SOPs (standard operating procedures)?

  Could someone step in and run operations without you?

• ☐ Is your brand known, trusted, or referable?

  Do clients ask for you by name—or for the experience you’ve built?

• ☐ Can it function without you?

  Are you the bottleneck? If yes, what would need to change?

2. Succession Sketch

Use these prompts to get started:

• If something happened to me tomorrow…
  • Who would need to step in right away?
  • What would they need access to (documents, logins, contacts)?
  • Who on my team or in my life could help carry this forward?
• What would I want to happen to the business?
  • Close it? Sell it? Transfer it to someone I trust?
  • What would be fair compensation for my team or family?
• Would I consider a seller-financed sale to my team?
  • Could I outline terms now, even if just in draft?

3. Talking Points for a Trusted Legal or Financial Advisor

Bring these to your next meeting:

• I want to protect my business as an asset—where do I start?
• Can we add it to my trust, and clarify who inherits it?