Contingency Planning Issues

The contingency plan provides for the contingency of an owner's death or disability. From the business point of view, the focus of the contingency plan is short term. For example, if the CEO cannot function because of death or disability, what needs to be done? The immediate need is to know who will be performing the tasks of the CEO. When the identified contingency occurs, the reaction should be immediate and without question. From the personal side, the CEO should have in place approriate estate planning to insure that family members are provided for and that family members are not in a position to approach the business with needs that cannot immediately be met.

BTC services are customized to meet each client's needs, with sensitivity to the qualities that make each person and business unique. Creation of a contingency plan requires knowledge and understanding of an owner's business and personal intent and needs. Estate planning should be reviewed and understood in detail. Business needs and procedures should be reviewed step by step in a fire drill fashion to identify the business requirements for continued operation.

For many closely-held companies, middle-market companies, and family businesses, BTC develops support systems that help leaders overcome inertia. BTC identifies difficult issues that are often avoided, such as upgrading the quality of employees or planning management succession. BTC strives for a more open and effective decision-making process, in which leaders can perceive reality and make plans and decisions more openly and honestly.