This is an article I published on LinkedIn.
Will Our Business Survive My Alzheimer’s?
I was recently diagnosed with early onset Alzheimer’s disease. This diagnosis is scary. Not only am I frightened about my future, I am worried about the small business my wife and I own.
As an active sixty-eight-year-old, I had plans to continue working another eight to ten years. Now, I don’t know if I will be alive in eight to ten years.
Certainly, my health and enjoying the remaining time my wife and I have together are much more important than our small business. Yet, we have worked hard over the past few years to build a business in the challenging construction world. We have employees who depend on our business to support their families. My wife and I also need the income that the business provides.
Adding pressure to this difficult decision is urgency. The team at Duke Neurology have given me a strict directive to reduce the stress in my life pronto. Additionally, I expect my every two week infusions to begin very soon. Not to mention the myriad details related to moving from Upstate South Carolina to the Durham area next week.
Like most big business decisions, we started with a few lists, a few spreadsheets, and a glass (or two) of wine. It became apparent that in order for the business to survive, big changes would be required.
I am the face of the business and I handle most of the sales and proposal writing. Because of the large geographic market we serve, overnight travel is often required. There is a good chance I will not be able to drive in a year or two.
Until a slip and fall accident in late 2023, I rolled up my sleeves and slung a hammer on many projects. I still visit most of our project job sites to handle quality inspections, speak to the client, and check on the team of carpenters.
I am also the business manager of our business. That includes vendor relations, financial management, human resources, and marketing.
All of those responsibilities are no longer possible on a full-time basis. The nastiness of Alzheimer’s disease is going to zap me of the energy, focus, and cognitive skills required to manage our business.
We have a small team of very loyal carpenters and trades people who have stepped up in recent weeks while I have not been able to work. I owe it to them to find a long-term solution to this permanent challenge.
Accepting that this challenge is permanent was the trigger to realizing that a big change was needed. It is not likely that I am going to recover from Alzheimer’s. Let’s be real, there is a near zero chance that I will get better. History shows that my health will decline as time marches on.
The big change we are making is a total restructuring of the business. We have split the business into four tightly focused units operating under the umbrella of a new corporation. Small, focused units should result in improved marketing. For example, one unit is focused on building decks, pergolas, and porches in the Low Country region of South Carolina. Selling those products in the Low Country is vastly different from selling fences in Western North Carolina.
A general manager has been hired. This guy is like straight out of central casting. Decades of carpentry experience, years and years owning a remodeling company, and a personality that is perfect for managing a team. He is a teacher, a leader, and a builder. And, he is my hero.
As part of the restructuring, the general manager has an equity position in the new corporation. His equity position will grow over the next few years and eventually, he will own the entire company. At the same time, my wife and I will receive income from the business. As long as I can work, I will stay involved on a limited basis.
It feels like the business will not only survive, it will thrive while I fight to beat the fast progression of Alzheimer’s disease
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