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Lead Your Team Strategy

8 Ways to Prepare Your Business For a Personal Crisis

Entrepreneurs Tony and Linda Cole saw their lives change forever when their 12-year-old son Anthony Cole Jr. had a heart attack on the school playground. It took a year before Anthony awoke from his coma and two years before the Coles were able to return to their sales training company, which has since gone on to blossom into a successful business.

In his book, “Resurrecting Anthony: A True Story of Courage and Destination” (Alexandra Press, Jan. 2011), Tony Cole tells the story of the first two years of Anthony’s recovery and offers these tips that can help business owners keep their businesses going  through a personal crisis. By taking these steps, the Coles were able to care for their son and grow their business into the Anthony Cole Training Group, which today serves companies nationwide with leadership development, sales management and sales training.

  • Discuss “What-Ifs” — Talking to your business partner or principal will detail what they can do on your behalf in an emergency situation.
  • Create a Plan — Decide who will be responsible for what during a crisis.
  • Foster Real-Life Relationships — Forging relationships with clients benefits everyone and can help retain business when times get tough.
  • Determine Who Will Be Responsible — Assigning responsibilities at home is as crucial as it is at work.
  • Seek Legal Advice — Critical circumstances often require living wills, power of attorney or other timely legal documents. Seek professional expertise.
  • There is No Balance — In the early stages there is no balance. Focus on what’s most crucial.
  • Don’t Get Dragged Down — Dwelling on what might happen is emotionally unhealthy and counterproductive.
  • Find a Close Adviser — A trusted confidant can offer counsel and an ear for venting.