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Life Plan Before Business Plan: Protecting Wealth, Brand & Legacy - Kori Whisenant & Gerald Jackson - Steel City Growth - Episode #24

/ 34:04/E24

Life Plan Before Business Plan: Protecting Wealth, Brand & Legacy

Today’s guests are Kori Whisenant, an estate-planning attorney based in Cleveland who teaches families how to build generational wealth, and Gerald Jackson, a transactional/business attorney who helps owners document operations, structure entities, and plan succession. Together, they show founders how to move from fear and improvisation to intentional planning that protects both family and business.

Takeaways
  • Life First, Business Second: Your business plan should finance your life plan—when they conflict, life comes first.
  • From Fear to Action: Tomorrow isn’t promised. Start small—make the call, name a successor, write the first page.
  • Succession Is Not Automatic: Don’t assume kids or partners want—or can—take over. Document successors and dissolution options.
  • Operate on Paper, Not in Your Head: An ops manual, partner agreements, and LLC structures prevent chaos (and lawsuits).
  • Facts Before Feelings: Valuation is math, then makeup—get the numbers right, then “make it cute.”
  • Brand Drives Premiums: Buyers often pay more for culture and brand than assets alone; build what people want to join.
Quote of the Show

“You need a life plan before a business plan—the business is just the tool to finance the life.” – Gerald Jackson

What problem can listeners help them solve?
Kori and Gerald want owners to stop delaying foundational planning. If you’re a founder, commit to a 30-day “plan sprint”:
  1. write a one-page operations blueprint,
  2. name your successor and backup, and
  3. book a checkup with your attorney/CPA/financial advisor/insurance pro.
     (Normalize these conversations in your circles—help another owner take the first step today.)

Chapters:

00:00 Introduction to Wealth Protection Strategies
02:44 Understanding Generational Wealth
05:19 The Importance of Succession Planning
08:17 Overcoming Fear in Planning
10:40 The Critical Role of Planning
13:21 Life Plans vs. Business Plans
16:24 Mistakes in Selling a Business
18:49 Building a Brand for Business Value
21:25 The Importance of a Support Team
23:56 Advice for Future Business Owners
26:34 Legacy and Impact on Future Generations


Links:
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Creators and Guests

Bill Ilgenfritz
Host
Bill Ilgenfritz
Nathalee Arroyo
Producer
Nathalee Arroyo
LinkedIn
Life Plan Before Business Plan: Protecting Wealth, Brand & Legacy - Kori Whisenant & Gerald Jackson - Steel City Growth - Episode #24

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