5 Things You Must Do to Protect Your Small Business

Uneasy is the head that wears the crown. Being in charge of your own business can be enormously satisfying, but it can also be a headache. Here are a few tips to keep your business safe from some dangers both inside and out.

1. Never Underestimate the Value of a Good Lawyer

Many small businesses avoid lawyering up, either because they don't think they need one or they don't think they can afford one. But finding a knowledgeable lawyer can save you far more than it costs. Especially when signing any kind of contract; have a lawyer review each one before you sign it. One of my clients saved thousands of dollars when their lawyer suggested a small change in their commercial lease agreement. It may not seem necessary at the time, but the payout can be well worth it.

2. Have an Employee Manual

Obtaining an employee manual is another task that may seem unnecessary, but will be enormously valuable over time. A well-crafted Employee Manual can set expectations for employees, illustrate the benefits they're offered, and ensure that everyone is treated fairly. Plus, setting the standards that are expected of your employees up front can help avoid or win lawsuits, should it ever come to that.

3. Make sure that you are properly insured.

Many employers overlook Employment Practices Liability insurance and Umbrella Liability insurance, and don’t understand who needs to be covered under Workers Compensation. These are issues that can be extremely costly if you're not prepared. Even if you're not necessarily sure that your business needs these coverages, be sure to discuss them with your insurance agent.

4. Pay attention to cyber security

From 2008 to 2010, a group of hackers preyed on and compromised more than 50 small businesses in Seattle, causing over $3 million in combined damages. Many hackers are now targeting small business, because they often have lax or no security measures in place. According to a 2012 study by the National Cyber Security Alliance, 71% of small businesses are dependent on the internet on a daily basis to conduct business, but 83% don't have any sort of formal cyber-security plan. Educate yourself on what is most valuable in your company, and what's most vulnerable, and take steps to protect it. Make sure all of your data is backed up regularly, and shred documents that may contain usable information before discarding (dumpster divers contribute to a large portion of financial crime).

5. Consider Outsourcing Your Bookkeeping

When you're pouring over the same information day after day, it's easy to get desensitized. But when it's something as important as your business's income and expenses, you can't afford to miss a thing. Having an outside set of eyes reviewing your finances can help to catch errors and prevent fraud; one more cost that could be well worth the money.

5 Everyday Objects You Didn't Know Are Fire Hazards

Only you can prevent forest fires, but what about laptops-in-your-bed fires? You can avoid those too - by knowing these 5 everyday objects that cause fires.

Laptops in Bed

I’m guilty of watching Netflix before bed, specifically while in bed with my laptop. But after a news story broke about a laptop left unguarded in bed for 16 hours that burned down a whole building, I never wanted to risk nodding off with a fire hazard in my lap again.

Since most laptops ventilate from fans on the bottom of the machine, it’s a good idea to elevate your computer to allow airflow. Not only will it avoid uncomfortable heat, but also dangerous accidents.

Dryer Lint

              

Another surprising fire-starter can be found in the dryer. Lint that wasn’t emptied (to the annoyance of the next user) often prevents the next batch of clothes from drying but can also start a fire. Leftover lint causes a reported 15,000 fires a year and should be taken seriously.

Next laundry day, remember to empty the lint trap for your clothes and your safety.  

Clutter in the Closet

Cleaning out your closet doesn’t just mean you’re starting a new way of life. It means you’re starting a new habit to avoid unintentional fires.

12% of house fires start in a closet, so if you have a closet that is stacked from floor to ceiling with junk, it’s time to let the fresh air in. Closet fires often begin when stored items touch a bare light bulb and catch fire. Whether or not it’s the season for spring-cleaning, get an early (or belated) start by reorganizing your closet and donating some old clothes.

9 Volt Batteries

There are probably some 9 volt batteries cluttered somewhere in my house. I image they’re resting peacefully, forgotten in a junk drawer or two. Dead batteries or alive ones should be treated equally and with care since fires caused by 9 volt batteries are on the rise.

Because 9 volt batteries can cause a spark if they touch something conductive, and that spark can start a fire if it lands on something flammable, in a junk drawer or trash can, always keep unused batteries in their original containers or wrap dead ones in electric tape before you toss them.

Batteries also require special recycling, so pick a drop off spot where you’ll likely get in the habit of recycling old batteries instead of hording them. You can find nearby recycling spots for batteries by clicking here.

Cooking Fires

Last, but certainly not the least dangerous, cooking is the number one cause of home fires. Thanksgiving is the most common day for home cooking fires, but that doesn’t mean other days are less flammable.

If you love to cook, your brain may be focused on the food but not always mindful of the ignition source on your grill or stove top, which is responsible for two-thirds of cooking fires. Always turn off burners when they’re no longer needed. It’s easy to forget burners if they’re left on a low setting, but triple check after cooking and before leaving the house. I literally do this every day.

With the exception of home cooking, this list covers some surprising culprits for fire hazards but there are plenty of others just waiting to cause a freak accident. Where there’s heat or open flames, there’s risk for fire, so take proper precautions and follow our blog for more tips on protection and insurance!