Will Your Business be Ready when Disaster Strikes?

In today’s globalized world, it’s all too easy to imagine disaster striking at the heart of your business. Take a moment to mull over some of the scares we’ve had recently that could derail your business. Last year, Computer Weekly reported on the distinct chance that we could see a new flu pandemic. Global terrorism in the summer of 2016 targeted two-dozen different countries, including the US. Flooding destroyed thousands of homes and businesses in Louisiana. And wildfires are still ravaging parts of California.

With all these disasters or potential disaster hitting businesses in the US, what can they do to ensure continuity?

David Van Allen is the VP of operations at INetU. He’s an expert in disaster recovery and planning. But he has some rather unusual advice for businesses contemplating disaster. This is what he says:

Don’t Just Focus On the Technological Side of The Business

When we think about business continuity, we typically think about keeping IT systems up and running. But unless your business is entirely on the blockchain, it’s likely it still has some physical component. Van Allen reminds businesses that they need to think about what would happen if there was a non-technological problem. Sure, their businesses might operate over the cloud. But they still need office space for people to be able to do their work. If there was a fire, does the business have a fire damage restoration plan? What if workers all got ill, thanks to a pandemic? How would the business cope with only a skeleton crew? Van Allen recommends that businesses spend a few days thinking through disasters that could hit things other than their IT. He suggests starting simple and going from there.

10 Types of Insurance Small Business Owners Must Consider

Small businesses contribute greatly to a country’s economy. In the U.S., for instance, data from the U.S. Census Bureau showed that the number of small businesses has risen by 49 percent since 1982. Today, many individuals and groups continue to set up businesses targeting the local and international market.

Starting a business of any type requires the proper legal documents and insurance to ensure that everything is legitimate and your business is protected from various risks.

Being knowledgeable about the different types of insurance is a must. Here are 10 of them you need to consider regardless of the size of your business.

General Liability

A general liability insurance will protect your business whether you are operating a physical store or one based at home. This policy will provide coverage in the event your employees, products or services cause physical harm to a third party. It can also be applied to any property damage to a third party.
Property Insurance

Can Your Small Business Ever Become Next Amazon?

It’s no big secret that Amazon is the world’s largest online retailer. The e-commerce giant started out life as a small website that just sold a few books. Today, you can go on the Amazon website and buy just about anything! Yes, they still sell books. But, you can also get electronics, homewares, even food!

Jeff Bezos, the guy behind Amazon, is worth around $66.9 billion. And all that from a small e-commerce website founded back in 1994. Now, I know what some of you are thinking. Amazon got established during the Web’s infancy. There’s no way anyone could start an e-commerce store and topple Amazon today! Or, is there?

Amazon does have some stiff competition from the likes of eBay and AliBaba.com. Plus, many promising new e-commerce sites look set to grow at a rapid pace! Are you thinking of setting up an online store? And have you ever wondered if you could be as big as Amazon?

In short, the answer to the latter question is yes. You just need to have a combination of excellent business skills and timing. Let me give you a few examples of what has made Amazon the success that it is today. I’ll also give you some pointers that can help you speed up growth for your e-commerce site:

Cheap prices

One of the many reasons for Amazon’s success in the e-commerce world is their prices. For the majority of products, Amazon is significantly cheaper than other online sellers. Part of their business model involves buying lots of stock at the lowest prices possible.