“That Won’t Happen to Me” Bingo: Why Business Owners Must Stop Gambling with Their Future

Every business owner has said it — “That won’t happen to me.”

It’s the quiet confidence we carry until reality proves otherwise. Over the past year, we’ve seen a full bingo card of unexpected events hit our clients, and other business owners in our networks. Each one started with the same mindset: “That’s unlikely. We’re fine.” Until they weren’t.

Here’s a list of “That won’t happen to me” events that actually happened. We might have missed a few, but these are the more recent events that impacted business owners. How many have you (or your colleagues) experienced?

• A major customer refused to pay — or went into liquidation
• A key employee resigned, taking with them access to critical systems
• Digital assets were lost when accounts were terminated without backup
• A company vehicle was crashed by an employee
• Stock was stolen or damaged
• A payroll tax audit landed unexpectedly
• Super payments were missed, triggering an SGC audit
• A business owner fell ill or had a family emergency
• Mental health challenges disrupted team performance
• Technology upgrades brought large, unplanned costs
• Hiring became impossible at affordable rates
• A landlord refused to renew the lease
• The ATO issued a director penalty notice or reported the business to credit agencies
• Business partners had a falling out
• Marital issues disrupted leadership
• Death of a business owner
• A key employee went on long-term leave
• A bank account was closed due to fraud
• A cyber security incident disrupted operations
• Marketing stopped generating leads due to Google algorithm changes
• AusIndustry delayed processing an R&D Tax Incentive application, or concluded the business was ineligible — after tens of thousands had already been spent
• Government regulations changed, eliminating a previously reliable revenue stream
• A customer cancelled their service, choosing to bring it in-house
• Identity theft disrupted business operations and damaged trust
• Finance applications were rejected, stalling growth or emergency funding
• Staff illness and unavailability left teams short-handed
• The business couldn’t be sold, leaving the owner unable to retire
• No one was authorised to process bank payments, causing suppliers to withhold service
• Weather events like flooding and high winds disrupted operations
• Software updates broke key integrations, halting workflows

The Real Cost of Playing Bingo

These aren’t just operational hiccups. They are value killers. Each of the above is a real life incident which had a real impact on a business.

As a Certified Value Builder, I’ve seen how these issues directly impact a business’s ability to sell, scale, or survive.

Let’s break down the costs:

• Immediate financial impact — lost revenue, emergency expenses, fines, or penalties
• Inability to operate — systems down, no access to bank accounts, no staff available
• Reduced capacity — fewer hands on deck, slower service, missed deadlines
• Missed sales opportunities — leads lost, deals delayed, reputation damaged
• Credit rating impacts — missed payments, ATO actions, finance rejections
• Health incidents — stress, burnout, and mental health challenges for owners and staff

The Hub & Spoke Trap

In an episode of The Business Behind Your Business podcast, I discussed the Hub & Spoke model, which is a structure where the owner is the central hub and every aspect of the business (sales, operations, decisions) radiates out as spokes. While this approach can be efficient in the early days, it quickly becomes a bottleneck as the business grows.

Many business owners start out seeking freedom, flexibility, and control. Yet, over time, the reality shifts: the owner becomes indispensable, unable to take holidays, and constantly tethered to the business. This is the classic Hub & Spoke trap—where every decision, customer interaction, and operational task flows through the owner.

Here are five warning signs you’re stuck in the Hub & Spoke model:

1. You’re the only one with signing authority
2. Revenue is flat year-on-year
3. You can’t take a real holiday
4. You know every customer by name
5. You’re cc’d on every email

Persisting with the Hub & Spoke model leads to burnout, resentment, and stagnation. The business becomes overly dependent on the owner, limiting its value, profitability, and potential for sale. Owners often find themselves unable to grow or exit because the business can’t operate without them. Sound familiar? Then it’s time to systemise.

Systemisation = Freedom + Value

Systemisation isn’t about bureaucracy — it’s about building a business that can thrive without you.
That’s what buyers want. That’s what gives you options. That’s what protects you when life throws a curveball.

What You Can Do Today

• Take the Value Builder Score — Get a snapshot of your business through a buyer’s eye
• Run a Business Health Check — Diagnose the real issues, not just the symptoms
• Start documenting systems — Especially for finance, HR, and customer service
• Delegate authority — Empower your team to act without you
• Plan your exit early — Even if it’s 5–10 years away

🎧 Listen to the Podcast

In this episode of The Business Behind Your Business, we explore the Hub & Spoke model and how it affects business value and owner freedom. Ep 167 – Trapped in Your Business? How to Escape the Hub & Spoke Model

Final Thought

“That won’t happen to me” is comforting — until it’s costly. Let’s stop playing bingo with our businesses and start building resilience, value, and freedom.