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NORTHEAST PRIVATE CLIENT GROUP ASSESSMENT
EXERCISE #1: ORGANIZATIONAL HEALTH
* Please assign a rating of 1-4 to each of the following statements*
1. Your organization has a clearly defined written vision that has been effectively communicated and disseminated to all.
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2. Your organization's core values are comprehensible and used as a foundation for employment, assessment, recognition, and termination processes.
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3. GWC: Get it. Want it. Capacity. – All team members in your organization are the right fit, possessing the necessary skills, mindset, and passion to fulfill their roles.
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4. Your leadership team fosters a culture of openness, honesty, and high levels of trust.
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5. Your organization has a detailed budget that is regularly monitored to ensure financial stability.
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6. Your practice has a system for managing and improving patient experience.
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7. The world is not served by playing small – Your organization actively promotes an entrepreneurial mindset that empowers team members to innovate and create their own opportunities. In other words, it encourages them to build their own tables.
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NORTHEAST PRIVATE CLIENT GROUP ASSESSMENT
EXERCISE #2: ORGANIZATIONAL FINANCE
* Please assign a rating of 1-4 to each of the following statements*
1. Your organization maintains an adequate cash reserve to cover payroll expenses for a period of 1-3 months.
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2. You have a plan for reducing overhead and improving profitability.
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3. Your employee engagement approach is effective in helping retain top talent. For example, your organization offers deferred compensation agreements and monthly bonus compensation.
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4. Whether it's real estate, technology, or talent, your business is prepared to make the necessary investments for growth.
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5. After paying all expenses, including the owner's compensation for dentistry, your organization achieves an annual profit margin of 20%.
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NORTHEAST PRIVATE CLIENT GROUP ASSESSMENT
EXERCISE 3: PERSONAL FINANCE
* Please assign a rating of 1-4 to each of the following statements*
1. Your personal financial plan includes all necessary insurances (life, health, disability, long-term care, liability) at the appropriate coverage level in the event of a catastrophe.
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2. You have at least one year's income in short-term assets available for emergencies or opportunities without fees or penalties.
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3. You devised a plan to invest in your "money machine” that anticipates a return of at least four or five times your initial investment.
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4. You have a plan for paying off any debts, such as credit cards, student loans, or a mortgage.
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5. Your estate plan is complete and up to date, including asset protection and tax-efficient asset transfer.
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6. You are receiving passive income from real estate or business ownership.
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7. You are tracking and monitoring your financial progress quarterly.
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8. You save or invest at least 20% of your adjusted gross income annually.
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9. You set annual financial objectives for your investment goals, growth projections, and anticipated expenses.
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10. Your assets are positioned in a way to create a series of paychecks and play checks when you are no longer active at work.
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11. Make money while you sleep – Your wealth creation strategy is focused on establishing revenue streams that continue to operate independently of your direct engagement.
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12. You are confident in your path towards financial freedom and creating multi-generational wealth.
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13. Invest in yourself – You plan to leverage the knowledge acquired from this assessment to improve your financial status and advance towards your goals.
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