On November 29th, 2016, an unfortunate accident happened taking down a Brazilian soccer team on its way to a final match. The team was flying through Colombia at the time of the accident. It’s a tragic loss to mourn those soccer players and their families, and the obvious effect that this tragedy must have on the community. These young players were enjoying the sport that they love, and, unfortunately, they lost their lives in a disaster; it’s not the kind of thing you want to see repeated, and it has important lessons for business.
The important thing is, we never know when an unexpected event will happen. Death can, unfortunately, happen at any time. Thankfully for many people, it is when they are advanced in age, after they’ve enjoyed life for some period of time (so a little more predictable). However, sometimes there’s unpredictability in death, and it’s not fair to pass that unpredictability on to your family and your employees.
We as business owners must have plans in place to create continuity of our businesses; to make sure that those that depend on us have ways to move forward, to make sure that they’re protected.
How do we do this? It starts with planning. I talk in The Three Laws of Empowerment (www.rshawnmcbridelive.com), about preparing, planning, and protecting. You need to be prepared for the possibility of death, you need to have a plan in place to keep your business operating – and operating strong – and you need to make sure that there’s protection in place: other people involved in the business, continuity plans, processes and procedures to keep that business moving forward.
It’s not that hard to plan for it, and unfortunately this tragic accident in Brazil brings forward the necessity of good planning. This is a wake-up call to work on planning, and make sure that everybody in your life is protected.
Do you have plans in place for your possible death? What would happen to your business? How would things move forward? Join us in the comments below and let us know what you’ve done.
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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Josephine Eber.
About the Author
Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at firstname.lastname@example.org or (214) 418-0258.
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