What happens to your well-designed small business plans if you become incapacitated? Who steps in to take care of the myriad of details you deal with every day. Dave and Shannon discussed the more formal ways of setting up a succession plan, such as disability insurance and key man policies, but what about the equally important but informal information you may have on your mind? We talk about how to set up “breadcrumb” paths to help those who may need to step in to take on our role, as well as how information can be shared to help during a change in management. We call this the “Hit By a Bus” plan.
Shannon then opens a discussion on a new book by Scott Adams of Dilbert, “How to Fail at Everything and Still Win Big.” A popular quote, “Goals are for losers,” leads us to talk about Adams’ concept of systems instead of goals. You’ll learn why we believe this is right, and you’ll find out if Dave or Shannon EVER set a financial goal for their business.
We end the show with a powerful story from Dave based on the idea that it never hurts to ask, and a phone call from Scott who gives a glimpse into Dave’s idea of being an expert witness as a side business. Our favorite comment from Scott: “You basically teach kids and use adult language”. Thanks for calling, Scott!