To distill what could be an overwhelming process into something manageable, here are four important steps for successful contingency planning:
1. Implement a Communication Tree: If anything happens to you, decide who needs to know what within the first 24 hours, 48 hours, a week, and a month. Delegate communication tasks to specific team members so no single person is burdened with the task during stressful times.
2. Establish a Temporary Leadership Team: Identify individuals or a group who could keep the day-to-day operations running—making sure the lights stay on and the customers remain happy.
3. Share your Long-Term Vision: Communicate your long-term goals for the company clearly, so the team knows what you would like to happen if you’re suddenly not around.
4. Have an Annual Review: Set an annual check-in to review and update your plan as needed. Because we’ve had this conversation, I’m confident that my team is well-prepared and knows what to do if anything happens to me.
👉 For my fellow business owners—do you have a contingency plan in place? Have you communicated it with your team? Let me know of assistance helping you get started!
-Rusty Fulling