Driving Your Small Business Without Being Behind the Wheel
January 27 @ 11:30 am - 12:30 pm
What would happen to your business tomorrow if something happened to you?
Would your operation run seamlessly due to your exceptional organization and succession planning; or instead, would it come apart at the seams? How easy would it be for someone, a trusted associated or family member, to step into your shoes and keep your company running successfully? Are your employees, family members, and customers going to benefit from your great planning, or be the victim of your failure to plan?
Failing to plan is planning to fail. Every small business owner can imagine the unimaginable. The reality is knowing that one day you will not be there, either by choice or by accident. The tragedy is not being prepared for that day.
WHAT YOU WILL LEARN
In this one-hour workshop you will:
(1). Learn what a prepared business owner needs to have now for emergencies, or for any designated representative who might need to step in at the last minute.
(2). Consider some short-term goals that will help you pick and groom the person who can help with future needs.
(3). Understand some long-term options for your business that you most likely haven’t had time to consider.
Is it realistic for you to expect your small business to run smoothly without you in charge? As children and teenagers we think we are infallible, that nothing will happen to us. As small business owners we need to be prepared for anything.
* Successful succession planning prepares you and your business for something that could happen anywhere at any time.
* Do you want to pass your business on to a family member or a key employee? Will there be a buyout involved?
* What about if someone wants to acquire your business, are you in a place to pull together what is needed for them to review?
* Are you ready to sell to an outsider, or consider franchising?
* What about assumption of management where you retain ownership, but someone takes over the business?
For a small business owner, now is now.
WHY MARY JO FOR THE WORKSHOP LEADER?
“I am passionate about this because I did not have a succession plan. I thought I had to work the rest of my life in my business, even though I was physically and mentally burned out after 10 years. I thought at times about grooming someone to take over management, but never came up with a plan or the money to do so. I couldn’t sell my business because it was too dependent on me. I had to close it instead.”
I don’t want that to happen to anyone else! It was a lengthy and painful experience. But I learned some valuable lessons and now am trained to handle all the business aspects I was not aware of at the time, including succession planning.”
WHO ARE YOU DOING THIS FOR?
Write the first names of three people:
(1). A family member who benefits from your income as a small business owner;
(2). an associate that depends on the income earned by working in your company;
(3). a customer that has come to benefit through commerce with your company.
If you were not there tomorrow, without planning for that eventuality, would any of these three people be impacted? Your business impacts lives. And, for the better. Make sure that the benefit of your hard work continues to be a positive force for those who have come to count on you being there.