Businesses of all sizes deal with risk every day. Some risks, such as the nature of the free market, you accept as part of doing business. Other risks are so unpredictable that they can dramatically change your business overnight.

• Can your business risk losing you?—Evaluate the financial impact of the owner's disability. Develop a plan to meet ongoing expenses in the event of your disability.

• What if you lose a key employee?—Identify employees who are essential to your business. Evaluate the impact of losing key employees to death or disability. Develop a plan to deal with the financial implications of both scenarios.

Planning for the future is an essential part of running any business. Why do fewer than one out of five family businesses survive into the third generation? The future doesn't always follow according to the plan.

• What will happen if something happens to you?—Assess risks to your business. Examine available options. Establish goals for succession.

• Is there a clear plan in place? —Develop a written succession plan. Indicate the value of each owner's interest. Explore what happens if an owner retires, becomes disabled or dies.

• Does your business have the resources to carry it through?—Arrange funding for the business succession plan. Allow transfer of ownership. Manage the company's estate tax liability.

Finding good employees is as challenging as ever. Keeping them can be just as difficult. One way you can make your business stand out in their minds is through the benefits you offer.

• Are you taking care of your employees?—Create a plan that helps you attract and keep good employees. Customize a plan to match your needs (health, dental, vision, group term life, short- and long-term disability insurance, long-term care insurance, disability income insurance, qualified retirement plans). Keep cost under control.

• Have you rewarded your key employees?—Analyze your need for additional benefits. Develop a non-qualified employee benefit plan (deferred-compensation plans, supplemental employee retirement plans, life insurance).

With so many demands on your time, running a business can seem like a 24-hour job. You also have to make sure your personal financial needs are met. This becomes even more important when your personal needs overlap with the needs of your business.

• Have you planned for your children's education?—Analyze your children's needs. Set up a dedicated education fund. Save more effectively.

• What will you do after you are done working?—Assess your retirement needs. Develop a plan to meet your needs. Create an individualized retirement fund.

• Do you have an estate plan that reflects what you want?—Identify what is most important to you. Establish clear goals and objectives. Follow up with a complete estate plan.