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Deb Neuman Deb Neuman
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Is your business prepared?

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Friends of mine in New Jersey are recovering from the impacts of hurricane Sandy. Their home and business lost power, and their summer home on the Jersey shore was destroyed by fire. Like the rest of us, they never expected this to happen. This is a sad reminder that we all need to be certain we have a recovery plan in place for our homes and our businesses.

Ask yourself these questions:

  • What would happen if my business was destroyed or shut down temporarily?
  • What does my insurance policy cover? What doesn't it cover? Is it adequate?
  • Will my insurance cover loss of income in the event my business can't operate for a period of time? (I strongly suggest you look into business interruption insurance!)
  • What if one of my key suppliers or customers is out of business temporarily or permanently? How would that impact my ability to do business? What is my back-up plan?
  • Do I have a back-up location where I can operate my business in the event I can't get to or operate from my business?
  • Where are my important papers and business documents? Do I have copies in a safe place or scanned copies that I can retrieve if necessary?
  • How will I contact my employees, customers and suppliers if my business is shut down?

Also consider what if something happens to you and you are unable to operate your business? Is there someone you can train to run your business for you? At some point you may very well get sick or injured. Prepare now - while you're still healthy!

We've been reminded that Mother Nature is unpredictable and powerful, and no one is immune from her wrath. Let's hope we never see another Sandy - but chances are we will. We do know that we will see winter. So now is the time to prepare for power outages, snow storms, roof collapses, fires and anything else that can impact your ability to conduct business. Do it NOW!

Why not make an appointment with your insurance agent this week?

Why not develop your preparedness plan this week?

Check out these websites for great information to help you prepare your plan:

www.ready.gov

www.sba.gov

www.maine.gov/mema/prepare

My New Jersey friends are recovering, and they are slowly getting back to business. This could be you. Don't assume that nothing bad or unexpected will happen to your business or to you. Assume that it will happen and prepare. That way you stand a much better chance of getting back your business and your life as quickly as possible.

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