Posted by on Apr 6, 2018 in Finance & Insurance | 0 questions

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The worst scenarios can often catch us unaware. This is why it always pays to be prepared, and expect the unexpected. Running a business is not easy, and sometimes there are many things that come around to impede your ability to do so. There are also many personal circumstances that can affect our efforts when trying to build the machinery of a profitable firm.

This article is dedicated to protecting you as one of the most valuable assets, if not the most valuable asset your firm can proudly boast. After all, without you the firm will likely not keep your vision to the extreme and most accurate degree. The business might need this personal insight to thrive, so be sure that you plan for the following circumstances, to either prevent them fully or lessen their impact.

Security

It’s important to know that as a business owner, you are a relatively valuable person. As your firm grows in its total income and gross profit, your income and standing will likely be raised as a result. This means you must never be too arrogant to assume that you are not worthy of targeting. Sometimes, people with bad intentions might find it necessary to try and either locate you and your home, or in the worst scenarios to hold you at ransom. Of course, this all sounds like movie-material, but this can and does happen to certain CEO’s who aren’t careful enough to protect themselves. We’re not suggesting that you hire Denzel Washington to come and protect you (although that would be cool and atmospheric,) but that you simply pay attention to home and firm security as you can.

Protect yourself by trying to temper flaunting your wealth if you’re lucky enough to have it. Install security systems and other frameworks to help protect you against potential home intrusion. Keep vigilant and watchful of any strange people that approach you without going through the proper channels, and always follow up in your investigations of suspicious circumstances. This also means ensuring that your business is protected through the people you employ.

Ensuring you commit a background check on all applications is a good way to ensure you are never caught unawares by corporate espionage or someone with personal negative intentions. With all of these efforts, there is a 99.9% chance that nothing will ever happen to you, but the ability to view, secure and report will likely mean that the 0.01% of something happening will be  dealt with swiftly, and will allow you to keeping working towards the things you live.

Insurance

Insurance is one of the most important financial investments you can make as the leader of a firm. This means that if something goes wrong, such as a property fire, you will be able to reclaim the cost and recuperate your losses with the edge benefits. It also means that if something dreadful happens to you and you are unable to run your firm any longer, you will be able to benefit from the health insurance you had already taken the time to ensure was working for you and not against you.

Insurance also allows you to take care of a number of certain distinctions that might occur in your line of work. For example, it might help you invest in training someone who needs to replace you in your business. It might help you tide over the firm in your absence. However, personally this financial compensations is much better used for the implementation of your own health recovery.

When you have this resolved, there is almost no reason to worry, as you know that in the event of a tragedy you are taken care of and can continue to contribute even in your limited capacity.

Information

Informational security is something that must be taken care of. This is different to physical security. The many different means of hackers and those looking to intrude are becoming more and more refined, and as this develops the chance of experiencing a real loss is even higher. There is almost no chance that your business is using anything other than a cloud based and connected IT network. This is great, as obviously it makes the proceedings much more competent, convenient and clean than usual.

However, without the right protection from a cybersecurity standpoint you are open season for those wishing to extract important information. It pays to set up your policy in a manner that allows for the safe handling of goods. This means that intellectual property is stored in offline locations, your business uses a VPN at all times and that you accurately assess the working procedures of all offsite staff.

This also means you develop a framework to allow outsourced workers to come in and adapt to your secure system within a matter of moments. This could mean using temporary passwords while they’re onsight, only allowing them access to a strict range of documents or implementing a temporary VPN access register for them to use, and them to use only.

Informational security is exceedingly important. Almost nothing is off the table when it comes to protecting it. This might even mean using your own in-firm cryptic language to refer to certain projects in development and protect against all forms of eavesdropping when it comes to intellectual property theft.

Auditors & Consultants

It’s important to know where your blind spots are. Often we ignore them because either we hope not to see them, or that we become further exacerbated with resolving other issues that don’t matter we become blinded to those that do.

This is where hiring independent auditors to come in and assess a wide range of your health and safety policies, cyber security exploits, and to gauge the stability of your working operations is important. With a professional and confidential report you are more than likely to find issues that you didn’t know existed, and from there develop strategies to reduce their potential in the future.

With all this in mind, you are sure to have planned for those situations that need your attention.