A plan for the continuity of operations and ownership, should something bad happen to you.
When we ask, entrepreneurs say, “My spouse/trust would inherit my business if I died.” The anxiety shows when we ask, “Should they continue to own it, or should they sell it?” “What would have happened here on Monday morning if you didn’t show up for work?”
These plans are simple, come together quickly, and are not expensive to implement. You will be asking us, “Why has no one suggested I do this before?”
The essential elements of the Continuity Solution™ include:
- Ensure the continuity of ownership through a buy-sell agreement or your estate plan.
- Decide and document how the continuity of operations is to happen.
- Draft “The Continuity Story” for all employees to share with customers and suppliers.
- Design a strategy to retain important employees.
- Set your intention as to whether the company should be packaged for sale.
Please fill out the contact form below if you’d like to talk about creating a business continuity plan for you and your business.