Last Updated on December 27, 2020 by HodgePodgeDays
As a business owner, you’re constantly preparing for anything that could go wrong with your business. There are declining sales, of course, a dreaded dip in the general economy, and a boost to the amount of competitors you have – and an entire laundry list of other things you risk when you’re a business owner.
Luckily, there are ways to safeguard yourself against this as long as you have all of your ducks in a row and know exactly what you’re up against. Here is a handful of tips to keep your business as safe as possible, whether it’s against the threat of dipping sales numbers or simply to protect yourself against all of those competitors.
First: Don’t seek risks
The best business owners out there know that seeking risks is a sure road to failure. Mitigate it instead and try to figure out how you can minimize the risk. This involves a lot, obviously, and you’re not going to get this done over a cup of coffee.
Try to think about any immediate risks that may cost you that much-needed revenue and safeguard yourself against it. Unreliable suppliers, an unknown market, internal problems – and particularly external problems should be addressed right away.
This means that you should try to avoid spending too much money while you’re still a young startup. Go for an office-free solution, to begin with, avoid hiring an entire team of professionals and consider using outsourcing options instead. As long as you’re able to put away the kind of money you need in case of an emergency, you can consider yourself a bit safer.
Another tip in this regard is to make sure that you have everything in order in case nature tries to take your business down. This could mean that you’re stuck with a blackout for a day or two, unable to ship your products, and even risking the loss of precious data.
The chances of natural disasters have been rather high the last two years and it’s a good idea to protect your business in case it should happen again. No feeling is as sour as a gigantic loss in revenue due to something as silly as a power failure. Have a look at this article for some hands-on tips so that you know how to keep your business as safe as possible.
Next: Think about your online safety
Your safety online starts, first of all, with a proper anti-virus software. Cyber criminals may attack from any corner and scurry away with your business details, employee’s personal details, and all of your credit card information.
It’s important that your team knows how to spot unreasonable requests for information, strange-looking emails, as well as any other signs on your computers that the system has already been hacked.
Treat your company to a cyber security conference that focuses on training your employees to recognise attempts at phishing and other cyber security threats. They are, after all, the first line of defense your business has in case of a cyber attack and if they don’t know how to defend it, at the end of the day, it’s simply due to a lack of training.
Keep the training up and repeat it at least once a year; launch a mock attempt after a month or two to see if the information has sunk in – and reward the ones who are ahead of the others. You can have a look at this article on how to protect your business from potential fraudsters in case you’d like to stay completely safeguarded.
It’s a good idea to point out a super user as well, though, if you find that one of your employees has a bit more knowledge of this than the others. That way, your team will always have someone to turn to in case they come across a dodgy email – and you can feel a bit safer about your business’ online security.
With the increase of cyber attacks directed at small to medium sized businesses, this is something you should really focus on. It’s easy enough to think it won’t happen to you until it actually happens and definitely far better to safeguard yourself beforehand.
As long as you take care of these points, it’s going to be a bit easier for you to keep your business safe and continue to prosper without any major setbacks.
This is a contributed post.