Six Protective Steps Entrepreneurs Should Take

Being an entrepreneur is an exciting venture because it allows you to have a ton of freedoms as a business owner. However, a lot of responsibility also comes along with entrepreneurship, and one of those is the responsibility to yourself to keep your business and its customers safe. The following are six protective steps you should take immediately upon starting a business to protect your assets and your people.

 

Purchase Liability Insurance

A small business should not operate for one day without liability insurance. Business liability insurance will cover you if someone gets hurt inside your establishment. Some of the business liability policies will cover you for hundreds of thousands or even millions of dollars. You never know when an accident can happen, or when someone will try to prey on your business with a bogus personal injury claim. It’s better for you to be safe than sorry with something like that.

 

Purchase Disaster Insurance

Just like you don’t know when accidents will happen, you also don’t know when a natural disaster is going to come your way. You can prepare yourself by purchasing an insurance policy that can replace your property if your business gets hit by a hurricane, tornado, hail storm, fire and so on. The policies are generally inexpensive, and they can truly save your business from crumbling. You can also add alarms and sensors for padded protection when it comes to natural disasters. For example, having a flood detector near water heaters is a great way to prevent extreme water damage.

 

Install a Home Alarm System

If your business is inside your home, you’ll want to beef up the security here. Installing a high-quality alarm system is one of the best things you can do to achieve that goal. The alarm system will alert you if anyone tries to get inside your home uninvited. It may even come with an app that you can connect to your mobile phone so you get alerts when you are away. You can choose from a variety of home alarm systems and add surveillance cameras for an extra layer of protection.

 

Hire an Attorney

Another step you need to take as a business is hiring a reputable commercial law attorney for yourself. The commercial law attorney can help you with things like employee contracts, acquisitions, and employment law issues. Additionally, this person can help you fight any personal injury claims that come your way.

 

Hire a Reputation Management Company

Another good company to have in your pocket is a reputation management company. This is a company that scours the internet and makes sure your business’s name is not being dragged through the mud. Specialists will take steps to combat any negative information that arises.

 

Hire a Background Check Company

You will need to have a reliable background check company if your business is going to have a lot of employees. It’s something you’ll want to do for yourself because you’ll want to be staffed with people who will represent your company in only the best light. The background check company can look for a criminal history, and they can check to ensure the person is who he or she claims to be. By checking your employees thoroughly, you can minimize human resource problems, monetary losses, employee conflicts and turnover. Additionally, you may want to find a drug testing facility that you can send your prospective employees to.

These processes will help you to ensure your business stays profitable at all times. They will help to minimize damages that can fall upon your company, as well. You can take a variety of other precautions, but these are just a few to get you started on the safe side.

Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy.

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Entrepreneur-Resources.net is happy to provide guest posting opportunities for small business owners. This article was created by one of our contributors.

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