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to help you better manage your small business.
Fires and floods, blackouts and robbers can shut you down--whether you have a shop or office or work on the web. When the unthinkable happens, put in place that plan you've already thought about.
Example: Frank runs a computer service business. His computers are tied into those of his clients, and many are large corporations. He can diagnose, troubleshoot, and repair their software problems from his set-up. His system automatically generates an invoice anytime his computers do work online for clients. Then the power went off. When he checked the power outage footprint with the power company, he learned that all his clients were without power as well. He reasoned that everybody would get power restored at the same time. But that was not the case. Several of his clients had back-up power systems that cut on when the power went off. Frank did not. He is now investigating how he can hard wire his system to those of his clients.
Example: Diane runs a small convenience store. After she was robbed twice, she decided that it was up to her to defend herself and her business. She bought a handgun, put herself through licensing and training, and now keeps the firearm handy. She has not shot anyone, but she did send a knife-wielding robber on his way when she pointed the firearm at him. In the past, she was terrified of guns, but today she has the means to protect herself while waiting for the police to arrive.
Example: Jill's gift shop was located near the river. In the middle of the holiday shopping season after Thanksgiving, the river flooded. Water flowed into Jill's shop, ruining everything it touched. She had flood insurance, but she did not have loss of business insurance. And she had to close the shop for two weeks while she was getting everything back in shape. When her lease came up for renewal the next year, Jill moved to higher ground.
Emergencies are not unusual in business. Power outages, flooding and storms can come with little warning. Robbers can show up anytime.
Be prepared by planning ahead.
In business, you are your own back-up. How will you manage your business if you break your leg? What will you do if there's a fire?