Strategic Planning

Emergency Planning for the Solo Entrepreneur: Back Up Your by Kathryn Hack

Posted On March 23, 2017 at 3:20 pm by / Comments Off on Emergency Planning for the Solo Entrepreneur: Back Up Your by Kathryn Hack

By Kathryn Hack

The demanding situations dealing with a solo entrepreneur whilst calamity moves are detailed within the realm of catastrophe making plans, and the one powerful technique for fighting a enterprise failure after an unforeseen significant setback is have a in actual fact thought-out emergency backup plan. This booklet publications you to being one hundred pc prepared for the worst-case scenario.

  • Asks a serious query: "How ready is the common solopreneur to resist a surprising hindrance, like a significant clinical emergency?", addresses the most likely results of being unprepared, and offers a realistic method for development an emergency backup plan
  • provides information for selecting an individual or staff of individuals to instantly step in and deal with the company in the course of a crisis
  • Stresses the significance of creating a accomplished verbal exchange plan that serves to maintain humans knowledgeable on an everyday basis
  • deals info for holding pcs and different very important gear in stable operating order and guarded from cyber attacks

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Extra resources for Emergency Planning for the Solo Entrepreneur: Back Up Your Business--Before Disaster Strikes

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Be mindful of delicate family ties that are lifelong and irreplaceable. Extreme care is advised when dealing with family. The Family Business Institute specializes in succession planning for closely held family businesses. It states that, for most family held businesses, succession planning is an opportunity to create a multigenerational company that embodies the founder’s mission—but it is also the toughest critical challenge they face. Somewhere around 88 percent of small-business owners believe their family will ultimately control the business, but statistics don’t support this belief.

Business colleagues who lacked compassion for his situation drew away, leaving him even more isolated. He started to lose clients. To keep his sanity, he buried himself in the one thing that held meaning for him: building the home he and his wife had always wanted. Because he had no real handle on the finances, he poured money into the house that should have been spent reviving the business. Fortunately the story has a positive ending. Marvin came to terms with his grief and got a grip on the business before it crashed completely—though things had changed over time.

Remember, if you break down, you could take your business with you. Preventative action against breakdowns includes routine medical and dental checkups, eating healthy, getting enough exercise, quitting smoking, and other positive actions; but it also involves developing a positive outlook. I use the word “develop” because it takes a continuous effort to stay positive, especially when times are challenging. In her groundbreaking book, Up: How Positive Outlook Can Transform Our Health and Aging, Dr.

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