What happens to your well thought-out Small Business plans if you become incapacitated? Who steps in to handle the myriad of details that you take care of each day. Dave and Shannon have discussed the more formal ways to setup a succession plan, such as disability insurance and Key Man policies, but what about the equally important, but informal information that you may have stuck in your head? We talk about how we setup “bread crumb” trails to help whoever may have to step in to take over our role, as well as ways to share information to help during a management transition. We call this the “Hit By a Bus” plan.
Shannon then opens a discussion about a new book by Scott Adams of Dilbert fame, “How to Fail at Almost Everything and Still Win Big.” A favorite quote, “goals are for losers,” leads us to talk about Adams’ concept of Systems instead of Goals. You’ll hear about why we think this is right on target and you’ll find out if Dave or Shannon have EVER set a financial Goal for their businesses.
We wrap up the show with a powerful story from Dave based on the idea that it never hurts to ask as well as a phone call from Scott that sheds some insight into Dave’s idea of becoming an Expert Witness as a side business. Our favorite comment from Scott: “You’re basically teaching children, using adult language”. Thanks for the call, Scott!