Page 96 - Benjamin Franklin\'s The Way to Wealth: A 52 brilliant ideas interpretation - PDFDrive.com

is a mine of information on the things that can go wrong. Instead of the
schadenfreude of watching your opposition struggle in terrible circumstances,
consider carefully how badly your own enterprise would be hit if it faced a
similar or worse scenario.

Think carefully about the following:

• Are you insured for damage to your stock, your premises and your possessions if disaster strikes?
• Are you protected in the event of loss of earnings so that your bills will continue to be paid even if you or

your business have to cease or restrict trading?
• Do you have a fallback plan and an emergency fund to keep the business ticking over until you can get

back to full speed?

Insurance is a great thing, but don’t get too smug just because you’re
insured. The real mark of preparation is not being compensated for the
disaster a year after your company closes; it’s keeping your company’s head
above the flood waters until everything is back to normal.

HERE’S AN IDEA FOR YOU…
Don’t forget your data. Would you survive without order books,
customer contact details and intellectual property? No, so don’t just
back them up locally to tape or CD—a hosting company can provide
you with a mirror copy of all crucial data hosted on a remote server
away from your premises.