What Happens to Your Business If You Get Hit By a Bus?
Apr 16, 2025One of my clients asked me a question the other day that immediately brought me back to an interview I had with a sales rep 16 years ago.
In this video, I’m going to tell you:
✅ What that crazy question was (the one that caught me off guard)
✅ Why it turned out to be so powerful
✅ What I’ve done about it ever since
But first, if we haven’t met—I’m Scott Miller, founder of The Growth League. I coach restoration business owners all over the country, helping them increase profitability, reduce chaos, and build an asset that’s actually worth something when it’s time to move on.
For most of us, our business is our biggest financial asset—so let’s make it enjoyable and valuable.
The Question That Changed My Thinking
I was interviewing a sales rep—he was a referral from a friend of a friend. The interview was going great. I was already thinking, Yeah, I think I’m going to hire this guy.
Then, as we were wrapping up, he hit me with this:
"What happens to my job if you get hit by a bus?"
I was caught off guard. My first thought?
"What a ridiculous question! Who even asks that?"
But just as quickly as I dismissed it, I realized—
"Wait… that’s actually a great question. And I don’t have a good answer."
That guy, Randy, got the job. He was an incredible sales rep. And I’ll always be grateful to him for that question because it forced me to face something I hadn’t even thought about.
What Happens If You Get Hit by a Bus?
After that interview, I started asking my fellow business owners the same question.
Most of them had a will—but beyond that? No real plan for what would happen to their business if they weren’t around.
Then I talked to my friend Todd. He had a succession plan. He shared his template with me, and I immediately started using it—adapting it over the years to fit my business.
Fast forward to today, and this same issue just came up again.
One of my clients called me and said,
"Hey, we’re getting on a plane, and it hit us—we have no idea what our kids or employees would do if something happened to us."
So I gave them my simple succession plan template.
They filled it out, and now they have a clear roadmap for their family and team.
What Goes Into a Simple Succession Plan?
This doesn’t have to be complicated—just a 3-4 page document that outlines:
✅ Payroll: Who can access accounts? Can checks still be signed?
✅ Key Advisors: Who handles legal, accounting, business strategy?
✅ Ownership Options:
- Do the heirs take over?
- Is there a temporary GM in place?
- Should the business be sold? If so, to an outsider? A key employee? Who Handles the Sale?
- Is a business broker needed?
- Is there a succession buyout plan in place?
A simple plan like this removes the uncertainty and gives your family and employees peace of mind.
Do You Have a Plan?
If you don’t have a plan for what happens if you get hit by a bus, reach out to me. I’ll send you my simple template so you can at least get started.
It’s not the most fun thing to think about, but once you put it in place, you’ll feel so much better knowing your business is protected.
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