One of the major hazards of running your small business is cost and operational overruns. Quite simply, reduce risk by reducing your costs. Also, by reducing costs, you can actually improve your cash flow. One of the best ways to…
The most important consideration for becoming a self employed entrepreneur or small business owner is risk. Of course, anyone with the entrepreneurial mindset is unafraid to take a risk. The successful ones, however, take the calculated risk. The failures, of…
Most small business owners want to offer their employees, no matter how few, health insurance coverage. Those that think they can lower risk and save some money by not offering their employees health coverage will be seriously hurt in the…
It seems simple enough. BYOD-Bring Your Own Device, is a new fact of the business world that is quickly becoming unmasked for what it potentially might be: the new 600 pound gorilla in your risk room. The BYOD phenomenon has…
When it comes to risk, every business, large or small, needs to make its preparations and establish a plan for mitigating as much risk as possible. As times shift and change, so do the risks. Some risks that were planned…
One prevalent risk today that is generally ignored by most entrepreneurs and small business owner’s is that of their reputation especially their online reputation. What is most important in this regard is how to handle this risk across several platforms….
If your business is tied in to suppliers in foreign countries, or even if many of your customers are overseas, it may be time for you to consider the risk of not carrying political risk insurance. Customers and distribution points…
There can be no more important aspect to running a successful company than risk management. We have seen how companies unprepared for potential risk were easily destroyed. All you need do is think back to Enron, 9/11, and the recent…
As you begin to see your small business move out of start up mode an into an initial growth spurt, you will need to face the fact that your risks are going to change. Your risk management strategies need to…
The small business owner, or the entrepreneur, faces many challenges that are unique in the business world. When planning your risk management strategies, and deciding on the types of liability insurance coverage you are going to need, it is best…