Running a business can be risky since you don’t know when disaster can strike. For example, one day you could be going on with normal operations and then one of your machines just breaks down. If you didn’t have a contingency plan for that, you can lose a lot of money from stalled operations. Nowadays, […]
Risks
12 Guaranteed Ways to Grow Your Business in 2019
There are a million things that an entrepreneur should be concerned about when it comes to running a business. And while having a solid business plan is a great start, ensuring that the business enjoys steady growth is a major consideration that entrepreneurs should continuously work on. More than making profits, the business should evolve […]
Why Using Big Data Mitigates Risk and Helps Construction Businesses Take Flight
Construction companies that adopt technology to accelerate delivery can achieve real efficiencies. But if they aren’t also gaining insight from the project data, they’re missing a major opportunity. It’s like building a better, more powerful jet engine, then never actually leaving the ground. Digitizing all those construction documents creates a wealth of information, but most […]
Asbestos Claims: Could Your Business Be Liable?
Asbestos needs to be taken very seriously. It is responsible for thousands of deaths every single year—in 2016 it claimed the lives of 2,595 people suffering from mesothelioma, as well as causing a number of other fatalities in the of asbestosis and additional conditions. In addition to the number of deaths, asbestos is also the […]
Business Risk: Bet the Farm Only When the Crops Are on Fire
How much risk are you and your company willing and able to tolerate over time? Most people believe that early stage companies should take risks aggressively because there is less to lose and much more to gain with each risky bet or decision. Common thinking goes on to address large, public corporations by expressing that […]
3 Big Risks for E-tailers in 2019 + How to Handle Them
Each day, the world of ecommerce grows thicker with competition—making it an increasingly risky landscape for entrepreneurs to navigate. Yet the competitive nature of internet retail is only one risk facing prospective owners (and veteran ones) as we move closer to the end of 2018. If you want to avoid the blunders of highly visible […]
Prevent Human Error and Avoid Big Consequences for Your Small Business
Human errors do not seem that scary next to other cyber threats. But they are often a nasty part of successful hacking and scamming attempts that threaten businesses every day. They hide behind multiple faces, compromise data and work processes when least expected, and are often the result of stress, fatigue, and multitasking—all of which […]
Insurance is Always Too Expensive—Until It’s Needed
I expect that you have a story about how insurance saved you lots of money in your past. As usual, I have a story to make your hair stand on end. But first: here’s a fact. Business insurance is one of the more poorly managed mitigation of risk in small and many medium sized corporations, […]
Does It Matter Where You Store Your Data? You Bet It Does!
Unless you live out in the wilderness, completely cut off from modern society, your personal data has probably been compromised at some point. Most only become aware of this fact when a huge data breach like the one Equifax experienced in 2017 comes to light. That breach compromised the sensitive information of 145 million Americans […]
The Essentials of an Effective Business Disaster Recovery Plan
If there’s any guarantee in life, it’s to expect the unexpected. Small businesses are the most impacted when it comes to disasters because they do not usually have a formal disaster recovery plan. As a result, 40 to 60 percent of small businesses close permanently after a disaster, according to Liberty Mutual Insurance. Do what […]
