We have plans in case something doesn’t go as expected. Sure, we do this with our vacations. If it’s going to rain on Tuesday, we won’t go to the amusement park, we’ll go shopping.
But that’s pretty mundane and pretty inconsequential in the grand scheme of life. What about bigger decisions? What about running your business? What about protecting your livelihood? Do you have sufficient backup plans in place? Have you determined what you’ll do if something happens to your business? How will you protect your wealth? How will your bills get paid? How will you make sure your customers are serviced? How will you avoid breaching contracts and getting sued? What happens if business doesn’t go as you expect?
Many of these things are easy to plan for in advance, to run through with your management team and skilled advisors to make sure you have the right plans in place to make sure you’re protecting yourself. If they’re not done at the right time, these very simple things can fester into huge problems. We encourage our clients to do the simple planning early on, to make sure that backups are made and contingencies are planned for. Avoid problems before they become problems.
What are you doing to protect yourself? What contingency plans have you made? What would happen if there was a disruption in your business? Let us know in the comments below.
Avoid problems before it is too late.
Have sufficient backup plans in place, in your business.
Make sure you download our free checklist to assess your business: www.mcbrideforbusiness.com/BlogGift
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer C. We.
About the Author
Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at firstname.lastname@example.org or (214) 418-0258.
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