Any businesses in Florida and around the country owe much of their success to the drive and vision of their founders or a senior executive. Several of them would face an uncertain future if this person were to retire unexpectedly or pass away.
While larger companies may be better equipped to handle this kind of transition; even businesses that have become household names may struggle when an iconic figure is no longer at the helm.
Taking intelligent proactive steps
Like many aspects of success in the marketplace; making plans and taking intelligent proactive steps are the keys to dealing with the loss of an important business leader. Proactive measures could include identifying the key people within the business and putting recruitment plans into place designed to fill the void that they would leave as quickly and efficiently as possible.
Uncertainty and overreaction among shareholders or others who have contributed to the growth of the business could be prevented or minimized if they are made aware of these precautionary steps.
Many businesses could learn much about planning for the loss of key personnel by looking at how successful sports franchises cope with losing star players. Some teams never seem to recover after a marquee player resigns, but others seem to go from strength to strength.
The difference between moving ahead and becoming mired in the past is often the willingness to accept painful inevitability combined with careful planning and decisive action.
Business Lawyers
Attorneys with business law experience will likely be familiar with seemingly strong companies that faltered after an important individual moved on or passed away.
Business owners are often focused on growth and expansion, and they are sometimes prone to not looking inward until a problem has developed. A business attorney could help entrepreneurs to see things in a more rounded way. By pointing out vulnerabilities such as a heavy dependence on key personnel, and legal counsel may suggest that steps be taken in advance to address.