How 5 Single Points of Failure Can Cripple Your Small Business

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I was left with nothing.

Before I took over my family business, we had a sales manager who oversaw our aircraft parts business and interior manufacturing (roughly 70% of the company).

A bit of drama broke out (young egos are deadly), and my parents sold the interiors division to him, which left the core company with no key accounts, and in a dire sales situation.

The only reason this became a problem is because of:

The key person syndrome.

Key person syndrome is when one person holds onto a key area and creates an intense bottleneck when out.

If they never return, sh*t hits the fan, and everyone must pick up the pieces.

It also creates a knowledge vortex and team complacency, who rely on a specific person for everything.

From experience, these are the most significant single points of failure threats to any small business. Fix these, and your team will thrive.