Like all business owners, you are probably looking to make sure that your business is protected at all times. The only way this can be done is if you take steps to put necessary precautions in place. Too often, business owners will overlook this aspect of their business, or they prefer to spend money elsewhere, not seeing the protection as a necessity. However, all it takes is for one thing to go wrong, and it can cost you your entire business.
In this article, we will look at some things you can do to ensure your business stays protected.
It’s the law
The first thing you need to do is make sure you take all of the necessary precautions to prevent people from getting injured on your premises. You can do this in several ways. One way would be to make sure you adhere to all of the health and safety precautions required by legislation. These laws are there to help businesses and clients remain safe from any possible harm. Ensure that you have been through all of the health and safety regulations that could apply to your business, but also be sure to enforce them.
You should also be taking other precautions, such as getting your employees to sign non-disclosure agreements (NDA’s). If any employee has access to any confidential information, you need to know you can take action if they divulge company secrets. This is important if there are certain things your competitors or other people in the industry cannot know about. Or, make sure you invest in preventative maintenance software not to have to spend numerous hours cleaning up when things start to take a turn.
Get Insured
Do you have business insurance? If the answer to this question is no, you need to reconsider. You could need various types of coverage, from worker’s compensation to general liability and more. Protecting your business should be your top priority, and you can’t do that if you don’t have the proper insurance. If you are worried about paying premiums that are not necessary, you shouldn’t. There are specialists who can give you the correct advice, so this does not happen. AIC Insurance Agency is a well-respected, leading insurance agency that offers business insurance in Bend, Oregon. They can answer many of the questions you may have about commercial insurance.
Some customers may require you to have insurance to do business with them. As an organizational trainer, I had to show proof of insurance before signing a contract to present workshops. Good thing I had it, or I would have lost the contract.
Have A Lawyer
Finally, if you have a lawyer on retainer, you can have someone there to give you the correct advice you need if things go wrong. Some businesses will argue this is a cost they cannot afford. But, this should not be the way of thinking that most companies take. Just like not following safety regulations and not having insurance, it could cost you your business in the end. It’s always better to have someone there for when you fall to pick you up rather than to fall and have to navigate your way around the darkness alone.
Spend time assessing your business to make sure you have the protection you need. The time spent will be well worth it and you will feel more comfortable knowing your business is protected. Here’s to YOUR success!
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Leadership, and Life Coach. She is the Chairwoman and CEO of Infinity Coaching, Inc., where they help you up-level your skills so you can up-level your income. Infinity Coaching, Inc. provides one-on-one and group coaching, organizational training, personality assessments, and a signature program, the Infinity Coaching Inner Circle. Carolyn is certified to give both The Energy Leadership Index Assessment and Myers Briggs Type Indicator Assessment. You can find out more about both assessments and other products and services at https://infinitycoaching.net.
