Protecting Your Small Business

As a small business owner, you may play a number of different roles in your company, especially when you’re just starting out. You might not have the budget to hire an accountant, a manager, a social media marketing expert or a maintenance person. So you end up doing all those jobs while looking at the big picture and guiding your business towards your goals.

Doing so many jobs can lead you to make more mistakes than usual, so you have to always check your own work in addition to watching out for errors your employees might make. When launching your own startup, there are mistakes that can be avoided. Here are a few ways you can protect your small business and grow it into a great company.

Don’t Skip the Training

Your employees can’t read your mind, so the only way they will know what you expect of them and what processes you want them to follow is to train them. Your business will only perform as well as your least productive employee, and your computer network is only as secure as your weakest employee’s password. Training your employees is very important, and even if they say they already understand certain processes, you should go through all the training materials anyway. It’s possible they don’t really understand the process or haven’t learned your particular take on the process. Plus, a refresher is always helpful.

Evaluate Yourself

You also have to make sure you’re following the right procedures and security guidelines, especially since you will typically have much more access and control than your employees, which means your mistakes may have bigger consequences. One way you can evaluate yourself is to play Never Have I Ever. An online professional evaluation tool. This game will give you scenarios like ‘I have never lost a laptop with company information on it.’ If you answer guilty to too many of these questions, you may need to change some of your own habits.

Keep Up to Date on Threats

There are new threats to businesses every day. Many are IT-related threats such as hackers and viruses, while others may be new government regulations or changes in the industry that threaten your manufacturing process or your profit margin. Keep up with industry news by reading publications, attending conferences, and following industry leaders on social media so you’re aware of these threats.

Be Sure You’re Insured

Insurance is vital to a small business, because one lost lawsuit can bankrupt you. Having insurance will help protect your business and you should a customer be hurt while in your shop or while using your product. Be certain to consult a professional to make sure you have the right policy and the right amount of insurance.

Have a Disaster Recovery Plan

Do you know how you’d keep your business moving forward if a natural disaster were to destroy your office? What would you do if your server crashed and you didn’t have important data backed up elsewhere? Having recovery plans for these disasters and others can help you keep your business afloat during a crisis. By working these plans out ahead of time, you’ll have a clear outline of what you need to do in a stressful situation where you may not be thinking clearly.

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