Scenario:

David, 56, was the sole owner of a successful logistics company. The company employed 120 people, had long-standing client contracts, and brought in $18 million annually. But David was the only person with decision-making power, and he had never formalized a succession plan.

One day, he suffered a severe heart attack. Though he survived, he was forced into early retirement. Suddenly, his company was leaderless, and operations began to spiral—employees didn’t know who was in charge, contracts were at risk, and clients started looking elsewhere.

The Risk:

Without a succession plan, David’s business was on the brink of collapse. The company had no clear ownership transition, which meant banks and investors froze lines of credit, and employees feared layoffs. If David hadn’t recovered, his family might have been forced to sell the business at a fraction of its value—or shut it down entirely.

How Rock Solid Financial’s Strategic Planning Solutions Could Help:

If David had established a business succession plan, his company could have seamlessly transitioned leadership, ensuring operations continued without disruption. Using key-person insurance and buy-sell agreements, the business could have retained its financial stability while protecting employees and client relationships.

Instead of leaving his company in chaos, David could have safeguarded its value, ensuring his legacy and securing his family’s financial future.

If this sounds like you or it’s a scenario you’d like help avoiding, we can help. Book a consultation today.