Money For Lunch – A Step by Step Guide to Protecting Your Business

A Step by Step Guide to Protecting Your Business

February 13, 2015 10:39 AM0 commentsViews: 45

If you’ve got your own business or are making plans to start one, you need to make sure you adequately protect it. Doing so will keep it safe, along with your staff, clients, and yourself. This step by step guide will cover everything so you don’t need to worry.

Get Adequate Insurance

The first step is to make sure you have adequate insurance. Usually, you should have the following types of insurance:

  • Contents insurance to protect things inside of your building.
  • Building’s insurance to protect the building itself.
  • Public liability insurance to protect members of the public that you may interact with or work with.
  • Employers liability insurance to protect your employees.

Your insurance doesn’t just protect all of the things listed above; it’ll save you in a crisis too. Make sure you have it.

Focus on Health and Safety

By concentrating on health and safety as much as you can, you should be able to sidestep any incidents that could cause a lawsuit. You’ll need to be more vigilant if you work in a dangerous business, such as a construction company. However, those that work in an office should still be mindful!

Use Best Practices

Use the best practices possible to get your work done. Always adhere to the guidelines of your industry/area to avoid getting into hot water! You may want to get legal advice on this, say Parkman and White.

Develop a Plan incase of a Crisis

Sometimes, a crisis just comes up with no explanation and through no fault of a business owner. Develop a plan so you know what you’ll do if that happens. Try to preempt things that could go wrong and come up with solutions.

Keep a Close Eye on Your Finances

You definitely need to keep a close eye on your finances so you can monitor your outgoings/incomings and pay yourself accordingly. Getting a trustworthy accountant is the best step to take.

Protect Yourself from Cyber Crime

Many businesses these days use computers, but what they don’t realise is that cyber crime is a very real threat. If you don’t properly protect the information on your computers, on the system, cloud, or otherwise, you’ll be in deep trouble. You could have your information stolen, money, and your business reputation ruined. Your site could be down for days, resulting in a loss of earnings. Protect your systems from hackers and viruses the best you can.

Step by Step Guide to Protecting Your Business

A Step by Step Guide to Protecting Your Business- Photo by Adam Thomas

Watch What You Say and Do

The things you say and do in public and on social media can seriously impact your business. Make sure you’re not saying anything that could get you into trouble later and ruin your reputation. You don’t want to get in trouble with the authorities for saying something totally unacceptable. Use your best judgement to make sure you aren’t offending people and keep everybody happy. The better reputation you have, the more people will want to work with you!

Protect your business the best you can and you’ll have peace of mind. Good luck!

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