You’ve Just Been Given a Serious Health Diagnosis, Now What?

You go in for a routine annual checkup with your doctor. He sees something that causes concern. Before you know it, he’s telling you to schedule some tests. Out of nowhere, you get a phone call from your physician, and he’s got some bad news—news that completely takes you by surprise.

It’s a total shock, and you can barely bring yourself to believe it. Once the initial wave of panic rolls over and starts to fade away, you begin to realize there’s a lot on the horizon, and that means you’ll need a plan. But, where do you start?

A Small Business Owner’s Guide to Navigating a Health Crisis

When a small business owner receives a serious health diagnosis, the news can be overwhelming, not just personally, but also professionally. The very nature of a small business often means the owner is the heart of its operations. A sudden health crisis can prompt a reevaluation of how the business is run, and taking proactive steps is crucial to ensure the company’s survival and the owner’s peace of mind.

This means you’ll need to not only accept change, but embrace it, and turn the situation into an opportunity, with the goal of improving.

Assess and Communicate

The first step is to assess the situation realistically. Understand the nature of the diagnosis, the treatment plan, and the potential impact on your energy and time. This is not the time for denial. Instead, it’s a time for strategic planning. The priority is to create a support system for both yourself and your business.

Begin by communicating with your inner circle. Be transparent with trusted employees, business partners, and key clients. They can be invaluable allies during this period. Assigning a temporary leader or delegating key responsibilities can ensure that daily operations continue smoothly. Creating a manual or a “business continuity plan” that outlines essential processes and contact information can be a lifesaver. This doesn’t have to be a complex document; a simple, clear guide can work wonders.

Take a Financial Snapshot

Next, it’s crucial to address financial concerns. Review your business’s finances and your personal finances. Consider options such as short-term disability insurance, business overhead expense insurance, or a line of credit. Consider speaking with a financial advisor who specializes in small businesses. They can help you navigate this complex landscape and make informed decisions about managing cash flow and expenses during your absence or reduced capacity.

Set Priorities

Finally, remember that you are your most valuable asset. Prioritize your health and well-being above all else. This may mean scaling back your business, shifting to a more passive role, or even preparing for a sale or closure. These are difficult decisions, but they may be necessary for your recovery. A serious health diagnosis is a formidable challenge. Still, with careful planning and a strong support system, it is possible to navigate this period while protecting the business you have worked so hard to build.

Want to Accomplish More?

Do you want your company to grow faster and earn more while spending more time with your family doing everything you started your business to do?

We can make that dream a reality. Give us 30 minutes, and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at 480-636-1720, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

Organizational hierarchy illustration

How to Fire Someone, Anyone, Like a Boss

In business, there’s going to be times that put your toughness or timidity, to the test. If you’re an owner, partner, or manager, you might be tasked with firing someone. It could be your employee, your business lawyer, your accountant, a vendor, or someone else. You’ve heard that character is defined by what you do when nobody’s looking, and though giving someone the boot generally happens in a private setting, the other person will be walking out with their own perspective. So, it’s imperative you don’t turn a bad situation worse. Your goal is threefold, to end the relationship, to maintain your good reputation, and to do so with grace and respect. Even someone that’s toxic deserves your forbearance, because it says a lot about you as a person, and, as a leader. It also preserves a semblance of the relationship, something that might be valuable in future encounters and situations. You might even find yourself in the unenviable position of rehiring that same person. How to Fire Someone, Anyone, Like a Boss A firing begins with the first signs of trouble. In those moments, you might feel anger or surprise, depending on what occurs. What you should do when problems begin to arise, is to get to the underlying reasons. Approach him or her, ask questions, and listen to the answers. If the problems persist, try mentoring or some other type of support. Should that not bring the desired change, set boundaries and benchmarks. Firing an employee–looking someone straight in the eye and telling them they no longer have a source of income–is one of the toughest things you’ll ever have to do as a business owner. It’s often as hard on the person giving the bad news as it is on the person receiving it. And yet it still needs to be done, especially if you have someone who’s “poisoning the well” and bringing the entire business down with them. —Entrepreneur Even at these great lengths, you might still find the problem isn’t being solved. So, when the decision to part ways is the last option, know your legal limits. If you’re in an “at-will” employment state, you generally won’t have a problem. However, if he or she is under contract, run it by your attorney. Now, if it’s someone who is involved in impropriety, that’s a whole other manner, because it might be a criminal matter, and, you might be civilly liable. When the time comes to have the actual meeting, do the following: See him or her early in the day. There are several reasons for this, one is for your own benefit, because you’ll be distracted if you wait. Other reasons are you’re not wasting his or her time (which he or she will feel cheated and/or used), you are taking poor work out of his or her hands and giving it to someone who is competent, and, you’re sending a message to others that you listen and act when someone else isn’t working out. Be direct, honest, but not blameful. If it’s reached the point that firing is the only option, he or she is probably quite aware of what’s going on and how it will end. If the individual is not aware or seems blindsided, then you need to look at your Leadership and Management communication as it relates to setting expectations, boundaries and clear direction. Give reasons why, don’t sugarcoat them, but do not be blameful or belligerent. Give praise where it’s deserved. You can give points of praise where it’s deserved but don’t overdo it. Be genuine and graceful while keeping yourself aware of how it’s being received. Be ready to listen. Being told you’re no longer needed or feel unwanted are powerful emotional stirs. You might hear insults, threats, or other unpleasantness, but it’s out of an emotional outburst, don’t take it personally. Explain what will happen next. The finality might take time to sink-in, and, you’ll do him or her a great service by explaining what happens next. For instance, returning company property, retirement account options, these sorts of things. Another kind gesture is to allow them to say goodbye and get their personal possessions together. Rushing someone out the door isn’t dignified, and, it creates a lingering, negative perception that will be with those you still employ. Show courtesy, respect, and empathy and you’ll make the best of a bad situation. [shareaholic app=”follow_buttons” id=”26833294″]

Read More »
Woman stock photo

Signs an Employee is Quite Quitting

Quiet quitting isn’t about employees planning their exit—it’s about them staying put while doing the bare minimum to get by, often without you noticing right away. Left unaddressed, it can quietly drag down morale and productivity across your whole team. Here are the telltale warning signs to watch for before it becomes a bigger problem.

Read More »
Groupon logo

Groupon Teaches Us These Lessons About Discounts

Groupon once looked destined to become the fastest company in history to hit a billion dollars in sales — then reality hit hard. Its rocky history offers a valuable lesson for any business owner tempted to lean on discounts to drive traffic. Here’s what to know before you start slashing prices.

Read More »

Imagine Selling Your Business…

How Would Your Life Change?

You didn’t start your business just to stay busy—you built it to create freedom, security, and options for yourself and your family. Selling your business can be life-changing, but the real question is whether you’re intentionally building toward that outcome or simply leaving it to chance.

Sign up below for a free consultative session to learn what your business could be worth today and in the future! 

Thank you for your interest in learning what your business is worth. We will be in touch shortly.