What happens to your small business when someone dies?
A month to live. Not the words you want to hear. It can't be you. Right?
People every day, all over the world, get this devastating news. We hear about it, we read about it and we watch it on our television screens. But what happens when this news is much closer to home?
People every day, all over the world, get this devastating news. We hear about it, we read about it and we watch it on our television screens. But what happens when this news is much closer to home?
This unfortunately is the news that a small business owner in Australia heard not too long ago and it made me think. Mortality is something we all have to deal with in one way or another, but when we have families, businesses and responsibilities to others, there is more to consider than just death itself.
For the past 24 hours, I have thought of nothing else than what this person must be going through. It has also caused much reflection on my business and the businesses of Marketing Eye's clients. We all run our businesses and generally speaking, the worse case scenario is more to do with a downturn in the economy than our own ability to run our businesses.
What happens if you are told you have a month to live? Do you have a crisis management plan in place? Is your finances in order? Do you have the right insurances to safeguard your loved one's from financial heartache? Is your home and personal momentos where they should be? Will your business survive without you there and derive an income for your Estate? Or does your business need to be sold? If so, who would sell it/buy it? Does someone know your passwords to important accounts and perhaps even your safe? Do you have a list of people that you would want to share those last days/hours with you?
To be worried about material things when you receive devastating news seems to me to be a waste - and at the end of the day, they probably sort themselves out anyway. Spending every precious last second with your family and loved ones, is far more important and I am sure most people care more about the latter. BUT.. reality is reality.
So, if you have time today, make a few calls. Set up a meeting with your lawyers and accountants and put a crisis management plan in place. Communicate with your trusted advisors or your senior management team what your wishes are for your business. Share it with your family and persons your most trusted and loyal friend.
Life can be shorter than we had hoped and you never know what may happen.
P.S. If you like this marketing blog, then please feel free to share it on whatever social network medium you see fit. We love facebook, twitter and linkedin!
Leave a comment
Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.
comments ( 14 )
Stanton
26 Dec 2015Hi there! This is kind of off topic but I
Replyneed some guidance from an established blog.
Is it very difficult to set up your own blog?
I'm not very techincal but I can figure things out pretty
quick. I'm thinking about setting up my own but I'm not sure where
to begin. Do you have any tips or suggestions?
With thanks
Porno
21 Aug 2015This piece of writing will help the internet visitors for creating new weblog or even a
Replyblog from start to end.
free emails addresses
01 Jun 2015Very nice article, just what I needed.
Replynatural testosterone
02 Aug 2014I appreciate, lead to I found just what I used to be taking a look for.
ReplyYou have ended my four day long hunt! God Bless you man. Have a nice day.
Bye
WallArtDirect.co.uk
27 Jul 2014Simply desire to say your article is as amazing.
ReplyThe clearness for your submit is simply cool and that i can suppose you're knowledgeable on this subject.
Well with your permission let me to seize your feed to keep updated with approaching post.
Thanks a million and please continue the enjoyable work.
Safer Colon Cleanse Reviews
26 Jul 2014I loved as much as you will receive carried
Replyout right here. The sketch is attractive, your authored subject matter stylish.
nonetheless, you command get got an shakiness over that you
wish be delivering the following. unwell unquestionably come more formerly again as exactly the same nearly a lot often inside case
you shield this increase.
auto insurance comparison
08 Jul 2014Whoa! This blog looks just like my old one!
ReplyIt's on a totally different topic but it has pretty much the same page layout and design. Excellent choice
of colors!
Vib
14 Oct 2011A famous saying by Benjamin Franklin "failing to plan is planning to fail"
ReplyNo one wants to plan should someone die but unfortunately we need to do it.
meyry
31 Aug 2011That's a wise word! but well, like you said reality is reality.. we may need to be prepared for the worse.
ReplyMarlon
31 Aug 2011And then?
ReplyHow to make people manage the business like the owner in a few days?
The question above can appear without an early warning .
Marlon
30 Aug 2011Important advice to everyone.
ReplyWe never know when these things happen.
Marlon
29 Aug 2011Everyone should prepare the other people to be in charge of all their own functions in a company.
ReplyWhen somthing happens, everyone must be prepared to run the business.
Laura
29 Aug 2011Those are some wise words. This is something you don't want to thing about, but must not forget.
Replymarise cheney
29 Aug 2011Sensible advice. Something worth considering.
ReplyWell written.