Don’t Panic!! 3 Business Disasters That Can Easily Be Averted
3 Business Disasters That Can Easily Be Averted (Pixabay License)
Running your own business can sometimes be akin to walking a tightrope.
Should you make one false move, or should a sudden gust of wind knock you off balance (figuratively speaking)? You might then be placed in a position of peril. When we say ‘you,’ we are also talking about your business at large, as it might face failure when stricken with a disaster.
Thankfully, there are steps you can take to avoid catastrophe.
Firstly, you should prepare for emergency situations. So, if disaster strikes, your business won’t have to suffer unduly if you have already have put something in place to remedy any problems. In the event that your computer systems shut down, for example, there would be less damage to your business if you had taken steps to back up your data. Relate this example to all aspects of your business, and come up with a disaster recovery plan to minimize the damage to your business should the unthinkable happen.
Secondly, you should take steps to avert the possibility of a disaster. We will be focussing on a few examples in this article, so take a look below. While no business is immune from catastrophe, the chances of you falling prey to one will be reduced if you consider our suggestions.
Business Disasters #1: Equipment failure
If your business is reliant on certain types of equipment for the everyday running of your operations, then you might struggle to stay open if something suddenly stopped working. So, whether you’re running an office or managing a farming business (as examples), consider the items of equipment that you are reliant on. How would you cope if they suddenly broke down?
Of course, in most cases, pieces of equipment don’t ‘suddenly break down,’ despite the question we posed. Generally speaking, it is the wear and tear of something that can one day instigate a breakdown. To avert disaster then, you need to do two things.
Firstly, you should look out for signs of a fault within your equipment, and seek the assistance of a professional to put right whatever is going wrong. So, in the examples we gave you, it might be that you bring in an IT firm to check over your computers, and firms such as Slater Pumps to repair the pumps in your milking equipment if you’re working in farming.
Secondly, you should consider replacing older equipment. Not only will you increase productivity in your business when you have something less prone to slowdown and other technical issues, but you will also have something on your side that isn’t likely to break down at a moment’s notice.
So, thinking about your business, take the time to check over your equipment, and if you know something needs maintaining or replacing, then do so. A potential disaster might then be averted.
Business Disasters #2: Customer backlash
A business can live or die depending on its reputation, so this is something you need to be wary of. Should you upset your customers in any way, then you might suffer the consequences of a bad reputation. And by this, we mean a downturn in customers coming your way, a loss in profits and even media scrutiny should the offense your business has caused hit the local headlines.
To avert disaster, you need to consider why your customers might one day be upset with you.
It could be a fault in your product that has caused an injury to somebody. Or it might be that customers are less than happy with the way your business is hurting the environment. It might even be the fault of a customer service representative who hasn’t taken the time to address the needs of a complaining customer. And there are all kinds of other customer complaints that could damage your reputation should word get around about your business.
Thankfully, you can reduce the chances of customer complaints by taking the relevant steps in your business to keep your customers on your side.
So, in the examples given, you might be diligent with your product testing. You should look for ways to go green in business. And you should pay for training courses pertaining to good customer service for both yourself and your staff.
You should also take steps to attain customer loyalty. So, even if you do make a mistake, your customers will be less likely to rage about you on and offline if they have a closer relationship with your business.
Business Disasters #3: A lawsuit brought against your business
On both a financial and a reputational level, your business could be brought to its knees if a lawsuit occurred.
You might be held liable if one of your employees was injured in the workplace, for example. A client could sue you for breach of contract. You could be faced with a discrimination lawsuit if you wrong an employee. And you could be sued by another business if you break copyright law. These are just a few examples!
So, how do you avoid a lawsuit?
It’s relatively simple, really. You take the steps necessary to follow business legalities. So, you would commit to regular health and safety checks to protect your employees in the workplace. You would stick to the terms laid out in the contracts your business provides. You would treat all workers equally. And you wouldn’t knowingly steal a logo, a slogan, or an idea from another business.
We have simplified the above, we know, and there is much more you can do to keep yourself on the right side of the law. Our advice is this: Speak to a business lawyer. The better educated you are about legalities in business, the less likely you are to break the law, either knowingly or unknowingly. You should also commit to further research online on how to protect your business from the types of business lawsuits that could cripple your business.
You don’t have to walk a tightrope of fear in your business. You don’t have to fall prey to a business disaster. By taking the relevant steps, you can protect yourself from any kind of catastrophe. So, consider our suggestions, take action on what we have said, and then research other types of business disaster, and find ways to protect yourself from them.
Thanks for reading.