When it’s all said and done, what do you want most from the business you’ve created or the career you’ve chosen? When it’s time to cash in the chips and say sayonara to the working world, where do you want to be financially?

In other words, what’s the number you’ll need to have set aside that will allow you to live the lifestyle you’ve worked so hard to achieve?

Not long ago, my wife and I sat down with our financial planner, Mary, to discuss these very questions.

Oddly enough, Mary opened our session with Life Planning rather than with Financial Planning. She asked us to write down our answers to these three questions:

• Question 1: What would you do with the rest of your life if you found out that you would be dead in exactly five years?
• Question 2: What would you do with the rest of your life if you found out that you only had one year to live?
• Question 3: What would you regret not having done if you were to find out that tomorrow was your last day?

The Proverbial Bucket List

When I took a serious look at my answers, question number three really hit home hard. What would I regret not having done? This question (and my answers) changed the direction of my life!Business Planning and Life Planning have a lot in common. Starting at the “finish line,” what do you want your business (or career) to do for you?

In other words, what’s your business’s Bucket List?

Once you’ve filled the bucket, the next step is to figure out what you (and the business) will need to do if you are to achieve your stated goals. Unless you are conducting your business as a non-profit organization (by choice), one of your business’s main objectives should be to make a profit.

Profit is where your financial number resides. Without profit, the bucket may appear empty!

Here’s an exercise that will serve you well. Set aside two hours this week and go through this planning exercise:

Start with your Life Plan. In the first hour, identify what’s genuinely important to you personally. Then, think about how you will achieve that which is most important. Finally, come up with a plan to make it happen.

In the second hour, focus your attention on your Business or Financial Plan. Identify what you need your business or career to do for you if you are to achieve your Life Plan. What steps must you take if you are to make the items in your Bucket List a reality? Once you’ve figured out what you must do, pull out a calendar or your daily planner and mark down the steps you’ll take to make your plan a reality.

Best of life to all of you.