A close examination of processes and scenarios will fortify your business in the event of Disagreement, Divorce, Disability, Distress, or Death. These 5 “D’s” are possible scenarios faced by all businesses. A well-prepared business contingency plan gives your business the ability to maintain the course, or to effectively change direction in event of the “unforeseen.” But what if you someday decide that you have lost all passion for your business, and that you want to walk away? Here we’ll discuss this sixth, “Bonus D” that we’ll call “Don’t Want to do it Anymore.”
Burnout happens. Compound it with several additional life or business issues, and you might decide you want to call it quits. We all have days where that crosses our mind, but if it’s there with you for weeks and months on end, it might be for real this time. You know you have a responsibility to your employees. You know that if you simply closed the doors that your family would miss out on the financial benefit of a carefully planned merger or sale.
Some business owners reach this headspace but can’t bring themselves to tell anyone. They are accustomed to talking with their close advisors who have acted as cheerleaders through hard times. Spouses have sacrificed for the sake of the business, and friends have even loaned money during challenging times. Business owners secretly dreaming of escape don’t want to let people down. Who is the best person to talk to?
The D’s are never an easy conversation, but you, your stakeholders, and your family will gain invaluable peace of mind once you take the first step by reaching out to Eagle Corporate Advisors.