With the new year, it is a good time to consider what would happen to your business if you got sick or had to take an unexpected leave of absence. Sole traders, startups and small businesses can often fail during this time as so much relies on the presence of one individual. So to prevent this happening it is wise to put come strategies in place before a situation arises. Here are 5 tips to keep your business ticking over without you, regardless of the reason.
While it goes without saying, prevention is the best cure. We are constantly advised to maintain a healthy lifestyle, diet & exercise with a good work/life balance, however, rarely do people follow the advice. The start of the year might be a good time for new resolutions, and ultimately if you do not get sick all year, it will save you time and money.
Not usually a step new business owners take; a contingency plan can provide the framework if an employee or stranger needs to cover the business for a short time. The plan would also cover any critical actions that need to be taken in the event you are unable to instruct the relief worker on the tasks. Many businesses owners have trouble creating this document, so it is wise to seek advice from a business consulting service, who can assess what needs to be in the document.
If there are areas that can be delegated to employees or contacts within the industry, attempt to delegate these tasks. Sometimes if your clients have deadlines themselves, any delays can cause them problems and damage a further profitable business relation.
It doesn’t have to be an essay, but make sure all your clients or contacts who are expecting work are away that you are unwell and any contingency plans you have put in place. Reschedule meetings if you can, but a short email letting them know you cannot meet and will revisit the schedule when you are better can be just as effective.
Now you’ve dealt with your business; the important part is to get better. Do not try and push the recovery process, instead be realistic about your health. Balance your deadlines or work requirements with your health and don’t rush it. Otherwise, you might end up needing more time off than initially expected.
If you are putting together a contingency plan or simply want business advice, come talk to us at TR Consulting. With many years experience in the industry, we can easily pinpoint and advise on critical areas.