What happens to a business when its founder gets hit by a bus?*
Apparently, big transportation has it in for entrepreneurs, because this question is posed with shocking regularity.
While the body count of bus-struck founders is currently unavailable to us, this oft-repeated cliche seems to be a metaphor for reminding entrepreneurs of the importance of creating systems and hiring to ensure that their business isn’t overly reliant on its owner.
In this week’s podcast, Jarod and Jonathan discuss the steps you can take to insulate your business from overdependence on you — the owner.
“I see so many micro SaaS companies popping up right now that are dependent on one single API. And if that API shuts down that SaaS is dead in the water.
I’m always looking for SAS companies to invest in and every single one is entirely dependent on a single API from another startup.
So if that startup goes bust or even worse, the developer or the creator just loses interest, that business is shot.
Say you’ve just spent a hundred grand, a million, on a business that is completely dependent on one other service. That scares the crap out of me more than getting hit by a bus!”
“If you’re running your business properly, then at a certain point, you become the least important person in the business.
That means that you getting hit by a bus matters less than anybody else in the business, because you’ve delegated responsibility for the things that you need to worry about being incapacitated for.”
*No entrepreneurs were hit by a bus during the course of this podcast.
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