March 2, 2025

Future-Proofing Your Business: Lessons from Life's Curveballs

Future-Proofing Your Business: Lessons from Life's Curveballs

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What would happen to your business if life threw an unexpected curveball your way? Join me, Shannon, the Sugar Mama, as I share the poignant moments of losing my mother and the challenging task of closing my childhood home. This personal journey has taught me invaluable lessons about the importance of being prepared, both in life and business. I explore the necessity of having a trust, keeping organized records, and ensuring that someone can seamlessly take over your business if you're unable to run it. This episode serves as both a wake-up call and a guide to securing your life's work against unforeseen circumstances.

Through heartfelt reflection, I'll walk you through the critical components of a comprehensive business continuity plan. From crafting a detailed operations manual to training potential successors, I focus on pragmatic steps to future-proof your business. It's not just about maintaining the daily grind; it's about effective management and safeguarding your hard work. Inspired by my mother's passing, I urge you to have those tough conversations now to avoid chaos later. Join our monthly live business coaching if you need a starting point. Let's take proactive steps together to ensure your business thrives, even in your absence.

If you’ve connected with or been inspired by this episode in any way, leave us a review and let us know your biggest takeaway - I’d love to hear how you embrace Sugaring For All!! And while you've got your phone out, make sure to follow us on Instagram @Love2Sugar.

If you are interested in learning more about Radeq Lab's Premium Prebiotic Sugar Line of products, you can find them at www.radeqlab.us.

If you are interested in our business planner you can find the SugarBoss Planner here --->https://www.lulu.com/spotlight/love2sugar

The link to our Monthly SugarBiz Blueprint: https://www.love2sugar.com/offers/cMhp76LA/checkout

Cheers to your Sweet Success!

Chapters

00:00 - Prepare Business for Unexpected Events

10:26 - Create Comprehensive Business Continuity Plan

16:33 - Take Action to Safeguard Your Business

Transcript
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Welcome back to this episode of the Sugar Show.

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As you know, I'm Shannon, the Sugar Mama, and this is going to be a little bit different of an episode, but one of the most powerful sugar shows that I've probably done in a while.

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In fact, it was so powerful.

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The gentleman that was doing the filming of it actually felt inspired and changed his business as well, and so what happened was I recorded this last year as well, and so what happened was I recorded this last year, my mom had just passed away and I didn't really get around to publishing it, to broadcasting it to all of you, and I spent the next six months closing down my childhood home, and I don't know how many of you still have a childhood home.

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I was surprised at the amount of people that have moved around so much, like they couldn't relate to it.

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But I lived in that home for 55 years and my parents they got married.

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They spent 40, how many years together were they?

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Almost 60 years together until my dad passed and then my mom passed and it was time to sell the house, and so I spent the six months really going through documents and talking to attorneys, and it was such a big process that many of you hopefully won't have to experience in your lifetime, because closing that door for the last time was heartbreaking, but it was such an interesting experience for me to like not only have funeral and sadness and grief over my mom passing, but also another form of grief with closing down this house.

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Now you're probably wondering what this has to do with sugaring and and they go together, because I'm a sugar pro.

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This is life, you know.

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Do you close down your business?

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Know?

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There's all these things that relate to the work-life balance.

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Right, and this was really real, and what I learned in this was so much about what would you do if you were gone tomorrow, if someone had to take care of your house and your needs and your business, and this really is applicable to anyone.

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It's a pretty short podcast episode, if I'm honest.

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Normally I ramble on and on and I got really down to the point on this one because I want you to be very clear.

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So grab a pen or pencil and a paper or your journal or a notebook, because it might be a lot for you and really follow along with what I'm saying, because we need to make sure that we are protected in our business and in our life and, honestly, the things that I'm going to teach.

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We need to make sure that we are protected in our business and in our life, and you know, honestly, the things that I'm going to teach you in this episode really you should be working on in your family and also in your business.

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So sit back, relax.

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You know, play this over and over again, but this is one of the most powerful ones that I've done, because it was one of the most powerful times of my life, and I want to make sure that the lessons that I learned are lessons that will help you as well.

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So so today we're going to tackle a topic that's both essential and often overlooked what happens to your sugaring business if you are suddenly unable to run it?

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This is a topic that's been on my mind recently, and I'll share with you my personal experience, and I think it's actually really crucial for all business owners to consider.

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So save, download this episode, re-listen to it, send it to a friend, but this one is a must listen, check it out.

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I recently attended the Esthetician Summit in Texas.

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It was awesome, and I got to work with quite a few of you savvy business owners who were excited about learning the art of sugaring and you want to kick up your revenue in your spa or salon or your solo practice.

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I was so pumped to be spending time with you all and learning about your current business and how we can help you gain new skills with cutting-edge sugaring products to take it to the next level.

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The experience was not only amazing for the attendees, but for myself and my staff as well.

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I always feel recharged when I am around badass boss babes at a show, so I took a turn.

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I got home to California and I got the call that my mother's cancer had unexpectedly spread to her brain and she was given three months to live.

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I raced down to the San Francisco Bay Area to be with her.

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I hadn't even unpacked my bags fully from the Summit show and only six days later she was gone.

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In the last few weeks I've been handling all of her affairs bill paying, potty, training her one-year-old puppy whose name is Sugar, by the way.

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I did not name her, that the reader did.

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But I was handling legal matters and real estate and thank God, she had a trust.

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But I was handling legal matters and real estate and thank God she had a trust, and if you don't know what a trust is or don't have one, please push pause and write that at the top of your notebook to start that process.

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We could do another show about that, but thankfully she had her computer open to her email and I had access to her phone and I found the list we created of all her passwords, subscriptions, points of contact.

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Found the list we created of all her passwords, subscriptions, points of contact.

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So I have all that.

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All I have to do now is dig in and go step by step through her life's work and I know exactly what to do with each area and each account, and it was a big job to do.

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Well, of course, you know me and everything circles back to a teaching moment, and it got me thinking about the future and the unexpected events that can change everything.

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Not everyone is ready for the, what happens if, and what I've learned is what I can pass along to you so that you can be best prepared in your business.

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Now, in two previous episodes that I'll list in the show notes, you've heard how sugar saved my life, and if you haven't heard those, I will link them down below, and the first episode was about how sugaring saved me as a single mama 15 years ago I think it was.

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The second episode was about how being organized in my business helped me survive my heart being broken by my unfaithful husband, which I'm doing really great now.

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Thanks for asking.

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And now, what if, heaven forbid, something happened to you, to me, what if you passed away or even say got amnesia and had no idea how to run your business?

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Would your business be set up properly to continue thriving without you?

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Would there be someone ready and capable to take over quickly and easily?

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Does anyone even know your passwords?

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You have an extra key for your business.

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You know how to access your phone, and do they know how to access the phone and email accounts?

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These are tough questions and they're necessary ones.

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There are so many things to think about, and if we just pretend it will never happen to me, that's exactly when it happens.

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So this episode is for you to prepare them, just in case your emergency contact should have everything they need to jump into the driver's seat and take over your business if needed.

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Now, in our live monthly coaching for business sessions that we have with Sugar Pros, we focus a lot on building and growing your business, but what about safeguarding that business for the future.

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Today I'm going to share with you some of those steps that you can take to ensure that your sugaring business, your skincare business, your family's business, is prepared for any life altering event.

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Let's hope your family never has to be in a position to take the wheel, but if they do, all your hard work will be protected.

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So let's dive into it.

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Let's start with the worst case scenario and go to the happy parts.

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If your sugaring or skincare business isn't properly organized and you unexpectedly pass away, the immediate aftermath could be chaotic and devastating for everyone involved.

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Without clear documentation of your business operations, your successor, your partner, your friend, whoever is doing this may struggle to understand the day-to-day tasks necessary to keep the business running.

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Client records could be misplaced or inaccessible.

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It could lead to missed appointments and dissatisfied customers.

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Financial records might be incomplete or confusing, making it difficult to manage the cash flow, pay the bills or even access bank accounts.

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Suppliers or vendors might not know who to contact for orders.

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Suppliers or vendors might not know who to contact for orders, causing disruptions in inventory and, of course, supply issues.

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The lack of a clear communication plan could lead to a breakdown in trust with clients, employees and partners, further damaging the business's reputation and stability.

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In the worst-case scenario, the business could face significant financial losses Hopefully not, but possibly forcing it to shut down.

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Employees who rely on their jobs for their livelihood might find themselves suddenly unemployed, creating further emotional and financial stress.

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Clients who have come to trust and depend on your services might be left scrambling to find alternatives, leading to a loss of a loyal customer base.

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The legal complications of untangling your business affairs without a clear succession plan could result in prolonged disputes among family members or partners, draining your resources and adding to the emotional burden during an already difficult time.

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Ultimately, the absence of a well-organized contingency plan could mean the end of your business, erasing years of hard work and dedication and, quite frankly, leaving a void in the community and the industry that you've worked so hard to serve.

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So take out a pen and paper and let's avoid all that.

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Whether you are a solopreneur or a large salon and spa owner, or a manager, let's get organized to make sure your legacy is protected and if you are an employee, share this episode with your boss.

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It's essential for you to know that there is a plan if something happens to them.

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Sounds crazy, but if this happened this afternoon.

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Would y'all be ready?

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Probably not.

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I laugh, but it's one of those things that we always talk about and we just never do.

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We put it off, we put it off, we put it off, but let's do it now.

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So, first and foremost, documentation is key.

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Put your pen out, let's talk about it.

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Make sure you have a detailed written process for every aspect in your business.

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This includes your client records, your appointment scheduling, inventory, financials, even your marketing strategies.

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Think of it as creating a comprehensive operations manual, even if you are solo, because this is for them, not you.

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You can't just keep it all in your brain.

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This will be invaluable for anyone stepping in to run your business in your absence, and here are quite a few things that you should have prepared.

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Are you ready?

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Because it's an exhaustive list and there's so many more things, but let's start with this.

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So remember first, create a business continuity plan, a detailed plan that outlines how your business will continue to operate after your death.

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You should include information as key people to get in touch with business assets and financial arrangements.

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Now, this one seems obvious, but so many people don't have a will.

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Do you have a will?

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Clearly state your wishes for your business.

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In your will, specify who will inherit the business and how it should be managed.

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Make sure that that person knows exactly what to do, because if you just name them, they're not going to know.

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Make sure you have life insurance.

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Consider purchasing a life insurance policy that will provide financial support to your loved ones and help cover any business debts or expenses.

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Make sure that your business structure is documented.

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Keep copies of your business's legal documents, such as articles of incorporation, partnership agreements, operating agreements, leases.

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Keep it all in a safe place.

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Your business bank accounts Ensure that your loved ones know how to access your business bank accounts and have the necessary authorization to do so.

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That's so critical.

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Don't just say they're going to.

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They have to have their name on this.

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Any compile a list of your business debts, your liabilities, including loans, leases and outstanding bills.

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Key contacts maintain a list of key contacts, such as suppliers, clients.

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How do people get into your spa software system?

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Okay, that leads me to one of the most important areas digital assets.

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Create a list of all your digital assets, like your website, domain information, social media accounts, online payment accounts like Venmo, along with instructions on how to access them.

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This is so critical because if people don't know how to get into your information, they're not going to be able to continue to run your business.

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Protect any intellectual property that you have.

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If you have a trademark, you should have a trademark for your business.

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Okay, your business location.

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If you own the property where your business is located, make sure your loved ones know what to do with it and it's in your trust.

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If you rent, is there a clause that protects your business in case of your passing?

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Do you have a good communication system with your landlord and do they know who your key contact is should you be gone?

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Do your people know where your business records are your tax returns, your financial statements, your contracts?

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Make sure they're all in a secure location.

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And if they're on your computer, do these people know how to get into your computer?

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The key thing is to develop a succession plan that outlines how your business will be managed and who will take over in your absence.

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So this is critical.

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I want you to role play this piece Almost like a fire drill.

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Reenact the plan.

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So if something happens to me, johnny, where would you go to find my documents?

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Who do you call first?

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What's the password to my booking software or my laptop and if Johnny is staring at you blankly, well then it's time to grab an iced tea and sit down with Johnny and go through all of these pieces of information.

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Make sure that your loved ones know how to contact your legal and financial advisors for assistance.

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Prepare a communication plan that outlines how your death will be communicated to people and who will be responsible for managing these communications.

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Let's talk about that successor for you.

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If you're going to identify and train that potential successor, it needs to be someone that you trust.

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Might be tough if it's an employee or a family member or even a business partner, but really ensure that that person is familiar with your daily operations and has access to your necessary resources and information.

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Sounds funny, but regularly train them and keep them up to date and prepared for a seamless transition that you hopefully won't need.

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If you're a solo SD, what would you want them to know about?

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How to close your business if needed?

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This is so critical because I think we assume that people would know what to do, but if you ask Johnny, what would you do today?

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And Johnny again doesn't have any idea or has old information, you need to update it.

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So at the end of each year, when you close out the year, when you start a new year, say, review and update your plan.

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Our businesses evolve, and so should your contingency plan.

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Ensure everything is still relevant and up to date, because this proactive approach can save a lot of headaches down the road.

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By taking these steps, you can ensure that your sugaring and skincare business is well prepared for any changes.

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It's not just protecting your business.

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It's about providing peace of mind for you and your loved ones and everyone who depends on your business.

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We get so busy, but this is a priority and this is your wake-up call to handle this now.

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In fact, ask your spouse, your partner, your family member to do the same for you if you are their contact.

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So ask yourself if your partner has a business, would you know what to do if they were to pass this afternoon?

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Would you know what to do if your best friend's business all of a sudden needed to be helped?

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So take this episode as a sign, the sign that you need to get your butts in gear and plan for this.

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If you do not have it handled, start now, and I hope this discussion inspires you to take action and safeguard your business for this future.

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If you have any questions or need further guidance.

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You know we do offer monthly live business coaching to kick you in the butt and get you to run your business, not just show up and work and grind.

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And it bums me out that this episode was sparked because of my mother's passing but I know that she would be so proud of the fact that we did this and I know how to handle her affairs because we did this every year where we just, instead of saying, oh yeah, sure, mom, you're not going anywhere, you're going to be around until you're a hundred, really take the time to ask your parents, ask your partner, ask your best friend what would happen if something happened to them this afternoon, or make sure that they know what you would do if something happened to you.

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It's again kind of a bummer that this episode is on the heels of that, but it really did spark me to make sure that you all protect yourselves and protect your businesses, because we've worked really, really hard to bring them to this level and you don't want anyone to kind of have to pick up your mess.

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So, until next time, have a sweet week and get your business handled and protected.

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You'll thank me for it.