My father is the owner and sole employee of his business. He occasionally uses contracted employees for additional help when he needs it, but generally, he is the only person who can run his company.
This setup has served him for most of my lifetime. He owns businesses, runs them, and brings home a paycheck. It has never been a problem…
There was no contingency plan in place should anything happen to my father… like a quadruple bypass.
Fortunately, my brothers know the construction business and my sister and I know his accounting system and had open schedules to jump in to help. There has been no hiccup in his business services, only a different face showing up at the jobsites. Who knew having 7 kids would pay off eventually?
For the most part, everything worked out for dad. He’s still struggling a little physically and relying on my youngest brother to get him through the day, but at least he is getting through the day.
Here’s the question for all you ‘invincible’ small business owners out there…
Do you have a contingency plan?
If not, you better figure one out!