Tips from a Veteran Small Business Owner
Growing up in my parents' small business, I couldn't imagine myself following in their footsteps. And while I don't own a gourmet grocery as they did, I do own my own enterprise and have for 25 years. Here are a few things I've learned during my quarter-century of small business ownership.
Natural Disaster Prep
Here's a scary stat from the Small Business Administration: one-quarter of small business don't re-open after a natural disaster. Yikes!
There are a bunch of factors contributing to that (including no business interruption insurance, loss of critical records, etc.). It's always hard to plan ahead for something that may not happen, but it's one of the most important strategic tasks a small business owner can take. Use Hurricane Preparedness Week to complete these two critical tasks?
Prepare a Plan. What do you need to do to prepare for, survive and re-open after a hurricane? Who's responsible for doing what? What do you need to run your business at a remote site? What can you put in place or purchase now to avoid the rush? Your local emergency management office, insurance broker and SBA consultant can help you create a solid plan.
Investigate Your Insurance Coverage. Make sure you're up-to-date with workers' comp, liability, property and casualty insurance -- and consider business interruption insurance to help you get by while repairs or rebuilding are underway.
- Learn more about preparing your business for weather emergencies (an article we wrote for Staples).
- Be Prepared: How multifamily developers plan for and manage natural disasters (for Multifamily Executive Magazine)
Get Set for Small Business Saturday
I know it's not even summer, but this is the perfect time to start planning your activities for Small Business Saturday. Here are some tips for a content package we created for Staples:
- Promote with direct mail
- Host an event
- Collaborate with other retailers
- Hold a contest
- Give promotional gifts
- Create a friendly environment
- Reach out with relevant messaging
- Leverage social media (and don’t forget LinkedIn), including photos and short videos
- Read the entire article for more details on preparing for Small Business Saturday
- Check out how-to tips for avoiding an #epicfail.