Is Your Agency Prepared for Illness, Injury, or Death?

<p>Do you have a plan to protect your agency and team in the event of illness, injury, or death?? What would you do if your partner died? What if you were hurt or sick and unable to work? How much of your agency is dependent upon you for the day-to-day operations? As agency owners, we often think about our <a href="https://jasonswenk.com/fulfills-your-exit-plan/" target= "_blank" rel="noopener">exit plan</a>, but it's also important to plan for the unexpected.</p> <p>In today's episode, we'll cover:</p> <ul> <li>2 things to protect your agency from the unexpected.</li> <li>The key to protecting your agency's acquisition.</li> </ul> <p>Today I sat down for an interesting chat with Eric Meyers, former CEO of a $40 million digital marketing agency. Back then, Eric found himself trying to navigate a pending merger as well as a transfer of ownership after the sudden death of his agency's founder. He's here to talk about what he learned through the process and what you can do to protect your agency from the unexpected.</p> <h2>2 Things to Protect Your Agency from the Unexpected</h2> <p>Take a minute to think about what <a href= "https://jasonswenk.com/agency-business-plan/" target="_blank" rel= "noopener">your agency's future looks like</a>. Where do you want to be in 5, 10, or 20 years? Is that future still possible in the event of a sudden illness or injury of an agency leader? What about the death of your business partner? These things aren't fun to think about, but the truth is when you own a business you have to consider and plan for the unexpected.</p> <p>When Eric took the role of CEO at an agency, he never expected the founder would be involved in a tragic accident after only three months on the job, but that's what happened. As a result, the owner's family took control of the agency. From there, a pending merger fell apart and the agency went up for sale within six months. So how can you protect your agency from unforeseen changes?</p> <ol> <li><strong>Create a Buy/Sell Agreement</strong>. If you have a partne