Plan for the Unexpected
Business-continuity plans are also essential. The threat of your business not reopening after a disaster or failing outright may very well rest upon how well you plan and, more important, how well you implement that plan. Business owners need to prepare for a lot more than just a major disaster such as a hurricane. You’ll need a different plan for a fire in your building, if the water main breaks, or if there’s a pandemic. Each emergency requires a plan specific to the situation and, in many cases, requires different responses.
According to a recent survey conducted by Travelers during America’s Small Business Summit in Washington, D.C., consumers who are looking for choices and an adviser with critical planning issues most often turn to their attorney (28 percent) and their insurance agent (10 percent). Other options include your CPA, business-association members and others in your same profession. A few of the survey participants said they couldn’t rely on anyone, so they conducted their own research via the Internet.
Smart business owners know it’s important to plan for the unexpected to ensure protection for the future. The old saying, “If you’re failing to plan, you’re planning to fail,” easily becomes reality when you don’t have adequate insurance coverage and a business continuity plan in place that’s ready to implement on a moment’s notice.
Scott Brothers is president and CEO of Joplin, Mo.-based The Insurancenter. The company has been insuring the car-care industry since 1986, and is a writer of carwash insurance nationwide. For more information, call 800.444.8675; e-mail firstname.lastname@example.org ; visit www.carwashinsurance.com .