Last week my father, who is a self-employed environmental engineer, suffered a serious life-threatening medical emergency. He is in hospital recovering now, and will slowly return to health with the help of many skilled caregivers and loved ones. For this, I feel extremely blessed. What it has reminded me is that as business people, we sometimes avoid thinking of the scary possibility of suddenly being cut off from our livelihood.
There are two major points that this family event has highlighted for me. The first is the utmost importance of having some kind of insurance in place for yourself, as a business owner, in case you are unable to work. I prefer and recommend disability insurance with a clause that covers you if you’re unable to work in your own industry again (otherwise you may be forced to seek a job wherever you can get one). Critical illness insurance is very popular with insurance companies and insurance salespeople these days, but it does not cover everything, and the money can eventually run out. Knowing that if you did have to stop working and sell your business due to illness or injury, you will still have some kind of regular income, is very important for those of us who don’t have employers’ benefits to rely on.
The second major point is to think of succession not in terms of “when I’m ready to leave my business” but also “what happens if I have to be away for a while?” It’s one thing to take a vacation for a few weeks (this is hard enough) but what happens if suddenly you’re unable to work when you have projects in the pipeline, or you can’t open the shop in the middle of your busy sales season? Whether you’re a solo businessperson or you have staff, you need to have a plan for emergencies. Somebody needs to be prepared to step in and check your email, pay your bills, communicate with customers about your expected return to business, and keep the fires lit while you get back on your feet.
I don’t have this person right now. It’s not a position that you post a job for, but it’s something I’m going to give some thought to. It’s dreary to think about, but I know that if I got hit by a bus and had to spend 3 weeks in the hospital, I would certainly want to have my customers looked after (not wondering what cliff I just disappeared off) and my banking done properly. It’s part of an emergency plan that every business owner should put in place, as unpleasant a task as it seems.
(A note – I think I’ve also seen a Business Interruption Insurance, and a Key Person Insurance. If anyone reading this is in the insurance biz, feel free to post a comment explaining whether these cover what I’ve talked about above).


What’s your networking objective?
Rule #1: It is not to make sales to the people you meet.
Now that I’ve stated the obvious, let’s move on to the more nuanced issue of setting networking objectives.
There are many approaches to networking – almost as many as there are people out there. Perhaps you are aiming to raise awareness of a cause or initiative; perhaps you seek to make friends in a new town; maybe you hope to build a reputation for yourself (a good kind). The problem is that a good portion of people out there have not articulated their objective so they are wasting good time and money.
Rule #2: Declare your networking objective, and don’t keep it a secret.
There’s no need to be like a sledgehammer about it, but if you casually drop into conversation that you want to raise people’s opinions of travelling mimes, for example, then your correspondents can figure out how to file their meeting with you in their mind (and can account for the white facepaint). Better yet, by declaring your intentions, you open the door for people to help you with advice and introductions.
Rule #3: Every introduction is gold (almost).
When people truly know your objective, the introductions you get will be more relevant. More importantly, every introduction is a sign that the go-between has taken the time to think of you and try to help you. Thank them accordingly and either repay the favour or pay it forward.
Victoria has some of the awesomest networkers – we are a small town but very supportive. Thank you to all you connectors out there who have helped me “land” back in my hometown! I’m honoured to be a part of this community.