Up there with making money, business owners want to keep their companies safe from theft, disaster, and financial pitfalls. How do you know for sure that your business is relatively safe? Though you may not always catch things before they happen, there are some things you can do to keep your business running smoothly and safe from harm. In this article, we will look at just a few crucial ways to keep your business secure.
Keep Your Business Secure #1: Protect Your Premises
One of the most valuable assets your business has is any property you might own. Land and buildings have weight when it comes to business security and overall value, for example. Threats of any kind are worth preventing at most any cost because losing your place of business could mean its demise. If you don’t think you can afford a security system or a gate, think again. Theft, vandalism, and other damage can cost you far more and even destroy your security altogether. Do what you have to do to protect your property.
Keep Your Business Secure #2: Keep Cash Flowing In
It might go without saying that any business needs operating cash to stay afloat. I recommend that all businesses have multiple streams of income and credit. This helps to keep things moving forward and balanced when one area might be slow. Also, things like having a secured business line of credit can save a business during a sluggish season. Additionally, be sure you are not wasting money needlessly at any time. Keep the cash flowing, and your business will remain more secure at all times.
Keep Your Business Secure #3: Look After Your Intellectual Property
It’s not just the physical property owned by a business that is at risk from theft or damage. In fact, your intellectual property is just as important when it comes to sustaining a viable business. This includes your ideas, secret formulas, writing, sales copy, manuals, training materials, procedures, books, or anything that you have produced within or for your business that is not a physical item.
I’ve seen so many women fall victim to theft of their intellectual property over the years. This can happen so easily, especially if your business is internet based. People will steal your ideas and even your copy right out from under your nose if you’re not paying attention. Most of the time it’s not worth pursuing legal help if it’s not a large part of your business. However, there are things that you do want to protect with copyrights and trademarks. Consult with a business advisor for more information about how to specifically protect important parts of your intellectual property.