Episode 336: Why Business Continuity Planning Equals Freedom for Entrepreneurs

 

 Are you working 50-60 hours a week on your construction business? What happens if you suddenly can’t come to work? Is your business designed to run without you?

Here’s the staggering truth: Only 15% of CEOs have a business continuity plan in case they are incapacitated, pass away, or a key employee leaves the company. Why do only 15% of CEOs have such a plan?

In this week’s episode, Monish and I discuss the critical topic of business continuity. We talk about the ripple effects of a business owner’s absence, why most of them avoid continuity planning, how to make your construction business resilient, and what it means to have a business continuity plan.

Whether you’re securing your family’s and business’s future or just planning to take some time off, this episode is packed with invaluable insights that you don’t want to miss.

Let’s get started!

 

Key Takeaways:

Introduction (00:00)

Real-life stories on how important business continuity is (01:49)

How to do a quick business continuity audit (06:16)

What happens when your key employee leaves? (17:22)

Ripple effects of a business owner’s absence (24:13)

Why most business owners don’t have a continuity plan (29:20)

Strategies to make your business resilient (33:56)

The freedom of a business running independently (38:59)

Practical steps to create a business continuity plan (44:31)

Effects of having a continuity plan in place (52:28)

 

Additional Resources:

– Download the Legacy Planning Checklist HERE

– Join our FREE Get Out of Your Construction Business Masterclass HERE

– Download your FREE strategic planning guide HERE

– Schedule your FREE business evaluation call with our team HERE

The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

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