Monday, June 9, 2008

Business Emergency Plan

My FIL recently passed away. We had to really search to find the papers we needed, just to take to the funeral home. Then finding insurance papers....that was another problem. A problem that could have been avoided.

That all got me thinking...what would happen if something were to happen to me? Or my kids? Or Hubby? Or even my mom or dad? What if I couldn't work for a while? What if I had to leave the business for a while? What would happen? Who, if anyone, could take care of things?

My business is manufacturing/retail. I handmake a product, then sell it online. The retail end is solely online. I have auto deposits set up, auto debits to pay bills. Other bills I have to pay manually.....but I still pay those online. There is not a single bill I mail anymore. I love the convenience of the internet.

My business is a sole proprietorship. I am the sole proprietor. Hubby is not part of this. It's just me. Me, myself and I. I have part time help I hire when I need it. But that is only during the busy times, and it is only to do things I don't need to have control over.

So, if something were to happen.....heaven forbid....who could take over? Or let people know things would be delayed? Or even close things down?

No one.

No one knows how I run things. How my bills are paid. What my user names or passwords are. Who to call if something happens and I can't work for a while. I thought about this years ago, and now that I am getting older, I really need to take the time and write.things.down.

Hubby is not computer savvy in the least. Not even a little bit. Without step by step instructions, he can't even check his bank account. He has no email account and wouldn't know how to check email if he had one. So, I am going to have to make this a very basic and easy to follow emergency plan.

He will need to know how to contact my webhost, merchant account provider and current customers. He will have to know my usernames and passwords for my bank accounts and bills I pay. There are a lot of little details that are going to need recorded. Someone needs to know how to shut things down, if circumstances call for it. Or my automatic debits will continue until my bank account is empty....

So, if you work at home, or are self employed, do you have an emergency plan? How do you have it set up and where do you keep it? Is there someone who can take over and keep your business going, if need be? Or would your business have to be shut down until you are able to get back to it?


Also posted at After the Dust Settles...

1 comment:

Stitchen said...

You know Lynn, reading this makes me think I should put something more into writing. I also work alone, I run my machine and I sell my product. I do have a "Book" that I keep all websites and passwords but I am the only one who can make since out of it. I need a new book and I need to be more organized. I pay all the bills, I take care of 3 checkbooks. I know where all the important papers are...... but..... could someone else come in and figure all this out if they had to.
I will be working on this and posting my progress. Thanks Lynn.
Love you, D