News
TechPulse, Dovetail a 'perfect' organizer
London Free Press, December 31, 2005
By Marilyn Sinclair
At the beginning of any New Year millions of resolutions are made. People think about their health and vow to get in shape by joining a health club, losing weight or eliminating unhealthy habits.
Many business owners often close their books to another fiscal year and set a target for increased sales or business growth. Many people – both individuals and business owners – vow that this year is the year they will get organized.
Gayle White-Malloy, owner of Dovetail Inc. (www.dovetailorganizer.com) advises business owners that anytime is really a good time to get organized and she has created the perfect tool to help you do just that.
The Dovetail Organizer™ is a software program that allows users to input, organize and update all of your important information. The result is a long-term planning tool or a roadmap for business and family members in the event of unforeseen circumstances.
White-Malloy's background in the business world, as a Human Resources professional, and more on target with her current business, as a trained mediator, has helped her see, firsthand, the need for this type of documentation.
"Through the process of offering assistance through executors and Power of Attorneys and settling estates, I determined there was a real need for a communication tool to help families and individuals in resolving conflict or at least keeping family members together. There was no commonality in making sure everyone knew what was going on."
"That's really what led me to what I do today."
For business owners it's very important "that you've looked after organizing your own information for those 'what if' situations."
"Will my family know where my partnership agreement is? Is all my information up to date? Does it properly reflect me in terms of any legal implication or succession planning? Have I done those things that I need to do in order to ensure that my business has a life? Have I protected my interests, from a business ownership point of view?"
Thinking about these things "causes business owners, not only to look at their business but also their personal life and tie those pieces together."
White-Malloy believes there are six overall areas that individuals need to look at to begin to fit the pieces of the puzzle together: Personal, Medical, Financial, Estate, Property and Business. Each of these sections should then be broken down to the more finite details. For example, financial information would include your bank accounts, investments, line of credit or loans, pension, etc.
White-Malloy says when she first started working on her organizer, which became the Dovetail Organizer™; the final result was 62 written pages. She has since put all of this information into easy-to-use software, with trademark and copyright protection, to allow users to input the information and easily fill in all the details under specific sections. The information can be updated when needed to reflect the owner's current business and personal situation. Having all these details documented can also provide your financial planner or professional with virtually all the information s/he needs to advise you about the future including investments and planning for your retirement.
Putting in a bit of time to pull this important information together will help you keep that New Year's resolution to be more organized and activate some important discussions.
