“A ship in harbour is safe — but that’s not what ships are built for.”
John A. Shedd
Running a business is a lot like sailing a boat. Most people will have a destination in mind when they first set out on their journey.
It is important to:
1. carefully chart your course with the help of a map and GPS,
2. prepare the boat with rigging, life jackets and supplies…and finally,
3. cast off and set sail!
At all times navigating and watching for unexpected changes in weather conditions, unseen dangers and shallow waters (business challenges and plateaus)
The joy is in the salt air and experience of freedom, seeing amazing marine life and beautiful islands along the way. Enjoying the challenges, pushing your limits, working hard and reaping the rewards of this adventure called business.
Of course your trusted crew are there to support and guide you along the way to reach your destination safely.
Planning for the Unexpected
‘The only thing that is constant is change’
We were recently reminded of the need to think of the big picture and plan for the unexpected.
A recent major health scare has created an uncertain future for a client’s ‘hands-on’ business.
Fortunately over time the owners have diversified their assets and have investments outside the business to live from. The business was reaching maturity but was an ongoing interest, irrespective of accumulated wealth.
Sometimes ‘life happens’ and circumstances change beyond your control.
The lessons to learn here are:
• Businesses may cease due to unplanned circumstances.
• Don’t have all your financial ‘eggs in one basket’.
• You should have a safety net and adequate insurance in place, including accident and sickness, total and permanent disability.
If you need help creating a bigger picture contingency plan for your business, let’s talk.