In this episode of the Ownership Series, Paul Spencer explores the crucial topic of key dependencies within family-owned businesses, revealing how employee, customer, and supplier reliance can impact your company's value and resilience. Drawing from decades of experience, Paul offers practical examples and strategies to help business owners identify risks, reduce vulnerabilities, and build more robust assets. If you're looking for clear and actionable advice on making your business less dependent on any single factor, this episode provides insights that will guide you toward greater stability and long-term growth.Connect with PaulWebsite: https://www.secondnature.solutions/Subscribe to the newsletter: https://www.secondnature.solutions/joinLinkedIn: https://www.linkedin.com/in/paul-spencer-7252118/Chapters(00:02) Evaluating Your Business as an Asset(02:26) Understanding Key Dependencies(04:50) Chosen Versus Imposed Inputs(07:15) Reducing Employee Dependency Risks(09:38) Customer Concentration and Revenue Risks(11:59) Supplier Dependencies and Supply Chain Risks(14:24) Broader Risk Analysis and Next Steps

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