Not having a plan for how the business survives a worst-case scenario is like sleeping with your back door open.
You and your leadership team need to have a plan in place for what to do if:
- The CEO/owner dies or is unable to lead for more than 30 days.
- Your number one client that loves you and accounts for too much of your bottom-line leaves.
- The celeb you overpaid to endorse your product gets arrested for unspeakable behavior.
- Google or FB decide to double your SEO expenses overnight (again).
- Profits drop suddenly and the board comp plan needs to change for six months.
- Your banking relationship that has always been predictable suddenly calls your loan due.
- Your top salesperson leaves and takes two others with her.
- Your cloud storage provider leaks all your customer payment info and then closes its doors.
Are all of these things likely to happen? No.
Is any one of them likely to happen at some point over the next 5 years? Yes.
Do you need a plan that is 100% polished for every worst-case scenario? No.
Do you and your team need to spend time thinking through these and agreeing on what to do or not to do? Absolutely.
You may be surprised what your team might do in an emergency. Take the fear out of the room by planning for unlikely events that would knock the breath of your business.
Contact me for a free call and I'll walk you through how to get this done fast.
