The Wealth Planning Mistakes Business Owners Make Too Often

Most business owners are disciplined, strategic, and highly intelligent. They’ve built meaningful companies and created real wealth. So why do we consistently see avoidable wealth planning mistakes? In this episode of the Optimize Wealth Podcast, Lance Norquest breaks down four common mistakes business owners make — not because they lack intelligence, but because running a business and planning personal wealth require different skill sets and perspectives.

You’ll learn:

• Why exit planning must begin 3–7 years before a transition

• The hidden risk of overconcentration in your business

• Why tax filing is not the same as tax strategy

• The critical shift from wealth accumulation to wealth preservation The core takeaway: Wealth planning isn’t about being smarter. It’s about being earlier. If you want to protect what you’ve built and ensure it lasts beyond the business, this episode is for you.

Tax Disclosure: The specialized information we provide regarding tax minimization planning is not intended to (and cannot) be used by anyone to avoid paying federal, state or local municipalities taxes or penalties. You should seek advice based on your particular circumstances from an independent tax advisor as tax laws are subject to interpretation, legislative change and unique to every specific taxpayer’s particular set of facts and circumstances. [Firm does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.