Health problems can unexpectedly force a business owner to exit their business. Serious illness or injury can limit their ability to manage daily operations effectively. In such cases, the owner may need to prioritize their health and well-being over business responsibilities. This may involve selling the business or transferring management duties to a trusted partner or family member.

Planning for such scenarios is crucial. A “succession plan” sounds scary, and _is_ necessary if the Someday event is that you – well, are no longer with us. But even for shorter absences you definitely need one of two things:

• a contingency plan for who can take over for you, or
• better yet, an employee team that is already taking care of business day-to-day so that you can be gone for several days, maybe even a month, and the business keeps on ticking.

There are lots of legal issues if you actually die. Your funds might be frozen and the business has no way to pay bills or employees. You and your business attorney ad your estate attorney need to talk about that.

Hopefully, you don’t need to exercise that plan soon. In the meantime, the Business Value Booster Method shows you how to make your daily operations independent of your daily presence. Just in case.

Check out our free Starter Kit.