If You Die Or Get Sick What Happens To Your IM Empire?

These are all really good questions which unfortunately don't get asked enough by people starting websites aka startups.

From the beginning of any website I create I try to think about how I can take myself out of the equation as much as possible.

That means automating traffic and monetization. I will handle my own content creation and customer support initially, but work on getting both of those outsourced cheaply after revenues start coming in.

Then, if something were to happen to you, at least the business is self sustaining enough to continue providing for anyone left behind.

Be the architect of your business, not the structure.

I think her case was a quite rare one so if you aren't already a victim of information overload, fear of success/failure and procrastination, don't put up another road block for yourself by trying to set up safety nets.

If you don't yet have a solid business, then there is no need to worry about it breaking down so work on your business first, then worry about the details like that. It just adds to the distraction common to the IM world.

I myself have staff taking care of things in case I should vanish for untold reasons so my business never breaks down. Back when I started out, I didn't have a plan what to do in case I get sick etc., so I just worked as hard and fast as I could to get myself into a position from where I can pay others to do the work, then get a manager to manage these people etc. It takes a while to get there though, I agree.

My business would simply come to a screeching halt if I died. My wife knows what to do though and she could end the business without "Screwing" any of my customers over.

The answer to all your questions: Affiliate Marketing

Something to think about. I do have a master excel sheet that is password protected that contains all of the password and usernames to all of my online dealings. This includes all of my bills I pay online and several important email addresses. None of my IM stuff is on this sheet.

At this point in my IM journey I make money primarily through affiliate marketing. The set and forget of it works to my advantage. Additionally I also don't have a family or children. So if I died to tomorrow all of my IM stuff would eventually work itself out. Can you name a beneficiary for a PayPal account?

pssssh... I don't even want to think about it. I get SO far behind, I just had the flu and it seems like a couple days pushes me back a couple weeks. Definitely need to find a better way to support everything. I don't think many people even think about these things!

While I have anything but an empire at this point, there are already a number of things in place that would help my wife if something happened to me.

First, it is important to understand I am an engineer by nature, and have spent more than a little time with general business consulting, so I may think of these things a bit differently than many people. I am also somewhat of an "old dude" so have had thoughts about the fragility of life, particularly after the passing of my mother a few years ago, and my dad's recent hospital stays.

The following are in place at current time:
1: Business plans. Yes, I'm actually anal enough about it to have written a business plan that provides information about the goals, methods, and ROI expected for my online businesses. It has a bit more operational information than a typical business plan for a brick and mortar business might have, because of the various stages required: Initial builds, driving traffic, proving profitability, incorporation, scaling to expand and so on. With a typical business plan, much of this is not necessary because it is "obvious" and even though with online marketing the basics are still the same, the implementation is quite different.

2: spreadsheets containing a listing of all accounts, logins and passwords. This includes offline business endeavors as well as the IM stuff.

3: backups of all data from each site and all posted articles and such. In the event of a server crash, or the need to move a site to another host, I can upload most of my sites onto a new server in relatively short period of time. Because my wife might not remember my primary passwords, a "master copy" of the accounts and backups is on a portable drive in our safe, so she can just plug it into her computer to get access if needed.

4: step by step instruction needed to do such things as transfer a domain to a new hosting provider (this part was really easy, as it is part of one of my products).

5: a contact list of people that could (be paid to) help in the event it is needed. This is really thin right now, but will expand considerably once we incorporate.

Right now, it would still be difficult for my wife to move things forward, but once we incorporate, it will be easier because there will be other people actually dealing with the day to day operation of the business, and it will require only general management and direction. Also, once she completes her PHD, she plans to host her own memebership site, so she will have first hand familarity with many of the required techniques for at least maintaining a membership site and driving traffic.

I don't know how applicable the above is for many other people, but I would expect some of the basics would apply:
1: Some sort of information about the purpose and direction of the business.
2: Account details (host, login, password, etc)
3: Backup and recovery information.
4: contacts for potential help if needed.

Most People including me are guilty of this. We get stuck working in the Business and not for the Business. I agree with the Poster that said he is always trying to think of ways to get out of the operation of the Business while continuing to grow the Business.

I have always wondered about those websites that offer lifetime memberships. Is that my lifetime or their lifetime?

My husband would have no idea how to access anything or what to do with it if he could access it. He is a plumber and he is more of a 'physical labor' guy than a computer guy so he really couldn't care less about IM.

However, my Clickbank, Adsense and 2Checkout accounts all pay directly into my bank account which is a joint account so I guess he could keep receiving payments as long as my sites continued to make revenue.

Although as soon as he has my name taken off the joint account and my credit cards got closed, then my sites and hosting would die off and so would the income


But you get that!

A good friend of mine died and nobody knew any of his passwords so they couldn't access any of his accounts and over time his huge empire just vanished. Now his wife is broke, the house is gone, and at 60 something years old she had to go find a job.

If I died hopefully I will have time to write a note and tell my Oldest Grandson... "Go to the warrior forum" and you will find the path to everything your grampaw ever knew that was worth anything. There's enough there to help you become successful even if you find yourself in a place where you have nothing! Even poetry about how to become a man... its all there.

Hopefully I will have time to write that note.

My wife has all my passwords... but Im not sure she would know how to keep my biz running.

This thread definitely gives food for thought.

Edit: Morbid thought, but thought for sure.

Well, if you die today, you will loss everything you work for. So much better to invest for eternity not for temporal things.

This conversation is really interesting to me. I recently beta-tested a piece of software that helps put everything (and I mean everything) related to your online life all in one place. The info can then be easily stored on a flash drive and given to someone you trust so they can carry on in your absence. The software has just recently been made available. This is not an affiliate link - http://www.WebsiteSuccession.com

It's nothing to pounder over. Now there are so many people on IM, if one desapir's it would be hardly noticed. So guys, chill and just concentrate on your work.

My sites would die in a couple of months when the servers get pulled.

I really need to write down all info needed for someone to takeover since they only have to work a couple of minutes each day to make a really good monthly salary.