Friday Finance: Would Your Business Survive Without You

Many businesses rely heavily on a few key people to keep running. However, business owners should set their businesses up to survive on their own, like the role of parents launching capable children.

One way to achieve this objective is to set up a business and its processes in a way that would continue to be successful if the company were sold to an outside entity.

Often this requires changing processes, delegating authority and a lot of staff training. This idea makes sense regardless of the macroeconomic conditions, but it is especially important during a recession because it allows the business owner to steer the ship rather than row the boat.

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About the author : Darlene

Darlene Gagnon is an award-winning entrepreneur recognized by the National Association of Women Business Owners and is an Enterprising Women Inspirational Entrepreneur. She served on the board of directors for Entrepreneurs’ Organization and has mentored entrepreneurs and start-ups for over a decade. Her two companies, WeKinnect Global Branding Agency and Kinetic Promotional Product Services, have been recognized as “Best Places to Work” and “Largest Agency” by American City Business Journal. Both companies serve the US, Canadian, European, and Australian markets. Both companies are located in The Woodlands, Texas, with teams in Canada, the Philippians, and India. Her digital marketing and advertising agency services in English-speaking countries around the world.