As a business owner, you have enough to keep you busy with the day-to-day demands of running a business, taking care of customers, and trying to maintain a healthy work-life balance... the last thing you need to worry about is the laundry list of things that could go wrong.
At Arnold Insurance, we believe that prevention is the best solution...and when bad things happen, you're prepared. Our eBook, "Bombproofing Your Business" walks you through a strategy for assessing commercial risk and developing a plan, freeing you to focus on what you do best... running your business.
A good quality risk prevention strategy will examine different areas of your business and help you pinpoint any weaknesses. Armed with that information, you can work with your team to shore up those weaknesses. If and when something happens, you'll be ready. The first step is to put together a risk assessment team with representatives from all different departments in your company. Schedule regular meetings, perhaps quarterly, to meet and have an honest conversation about potential risks. Together, you can take the necessary steps to minimize the fallout should something happen.
Areas of your business that you should consider during your risk assessment include:
Business Technology
Consider what could happen if there were a power outage, a cyber-attack, or a system failure. Do you have backups, generators, or contingency plans so that business doesn't come to a standstill? How will you communicate to your customers or the public in the event of a data breach?
Employee Management
No one likes to think that there could be instances of company theft or embezzlement, but without proper checks and balances in place, it may be easier than you think. What happens if key employees are out for an extended period due to health reasons, or worse... what if someone is hurt in the workplace. Things like drug and alcohol abuse are more common than you may realize.
Natural Disasters
Depending on what part of the country your business is located in, you may potentially face any form of a natural disaster like tornadoes, hurricanes, or severe storms that can do a lot of damage. Some businesses deal with hazardous materials, and the potential danger to employees and/or customers can be devastating in the event of an accident.
At the end of the day, any of these "bombs" can blow up in your business at any time. Having a risk mitigation plan will provide a pathway forward. Sometimes, the best defense really is a good offense. Thinking through a risk recovery process ahead of time - before anything happens - will give you the peace of mind of knowing that you are as prepared as you possibly can be.
This eBook will walk you through strategies to help do everything you can to prevent something from happening...and once it does, to have the plan to execute in working through recovery. Peace of mind is priceless, and our hope is that this eBook will provide a pathway to get there. 
Originally published 5/27/21 - Updated 3/7/23