As business owners, we spend so much time looking after clients, teams, income and growth that we can easily neglect ourselves, our families and the future we are building.
In this episode of the Leap into HR Consulting podcast, Sarah Hamilton-Gill explores why a successful business should do more than generate revenue.
It should protect your health, support the people you love and create greater financial security and choice. Sarah discusses the risks of becoming the person who holds everything together. Client relationships, passwords, decisions, systems and income may all depend on the owner, leaving both the business and family vulnerable if that person becomes ill or cannot work.
The episode encourages business owners to consider:
* Could the business operate without you?
* What would happen if your income stopped?
* Are your systems and processes documented?
* Are you building personal wealth as well as revenue?
* What does “enough” look like for you?
Sarah also explores the importance of protecting your health, creating stronger boundaries and planning for pensions, savings, insurance, succession and the longer-term value of the business. Success does not always mean more clients or longer hours. It may mean stronger profits, better systems, recurring income, more family time and greater freedom.
Sarah is joined by Seb Szulc, Director and regulated financial adviser at Henderson & Stone, who explains how moving from employment into self-employment can mean losing benefits such as sick pay, death-in-service cover, employer pension contributions and income protection.
He discusses income protection, life insurance, mortgage considerations for self-employed business owners and the importance of seeking regulated advice before circumstances change.
Key Takeaways:
* Your health is one of your business’s most important assets.
* A business that depends entirely on you is vulnerable.
* Build personal wealth, not just turnover.
* Protect your family and plan for the unexpected.
* Do not wait for a crisis before putting plans in place. Build a business that looks after you as carefully as you look after it.
Important Information This episode is for general information only and does not constitute financial, mortgage, investment, tax, insurance, legal or medical advice.
To contact Seb message him at LinkedIn : https://www.linkedin.com/in/sebastian-szulc-58739766/
To connect with Sarah:
https://www.linkedin.com/in/sarahhg
