Who will run your business once you have passed on? Have you thought about it?
Yes, while I realize no one likes to talk about this subject, it is inevitable...we will leave here someday (I'm sorry). I actually seen this question posted here from another post (New Yorker) and thought the answers were rather interesting...
So, just curious to know from our locals, what is your response to this question. Are you prepared? Who is your successor or will you leave your family in a horrible place financially? Trust me, probate is not where you want your loved ones to end up...
Did you know that many businesses/owners are operating without any form of business insurance, let alone life insurance?
I work with many, where we either work together or refer business to one another. One great advisor, I refer business owners to asks this question to folks all the time...most don't have an answer but he does!
So, how about you!
So, just curious to know from our locals, what is your response to this question. Are you prepared? Who is your successor or will you leave your family in a horrible place financially? Trust me, probate is not where you want your loved ones to end up...
Did you know that many businesses/owners are operating without any form of business insurance, let alone life insurance?
I work with many, where we either work together or refer business to one another. One great advisor, I refer business owners to asks this question to folks all the time...most don't have an answer but he does!
So, how about you!
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Answers (11-15)
Such a good question and one I ask my clients all the time to get them in the mindset of leverage and legacy. I find it such a missed opportunity to have people build a business only to come to a time when the lease is up and they just decide to walk away.
With careful planning they can really develop an asset that is worth something.
I have a team of coaches who handle various niches and have a succession plan that will give them ownership, continuity and also provide for my children.
I'm a one man operation. What will be passed on is the enlightened knowledge folks have gained from me.
If in fact your care for your clients you then must have plan to take care of them when your gone or can't. I have one and anyone who doesn't really doesn't care for his clients or his family who will be left with the mess to clean up.
Key man or key people policy
all set thanks