Imagine a key family member suddenly passes away. Or the business faces a major crisis. Would your current plans and procedures hold up?
In order to prepare your family business for the unexpected, Russ Haworth encourages family businesses to practice “lifeboat drills.” As Russ explains, these drills ensure that your business and family are prepared for any eventuality.
Read “Family Business Lifeboat Drill” to learn why these drills are vital to your family business’s health, what scenarios to consider, and how these drills tie into your overall continuity planning.
Read more about preparing your family business for the unexpected here.
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