You offer intellectual property services to your clients: you’re a business coach, a Amway dealer, a writer. You work from your home and do your own books, what could possibly go wrong? Plenty. And you need to plan for it. Your home or office could certainly be hit by a natural disaster, heaven forbid. You can’t plan for earthquakes, or tornadoes, or fires, but they could happen.What are you going to do if you can’t access your building? Your merchandise? Your computer?
Maybe you do your own books–good for you! But maybe your bank account gets hacked and you can’t make payroll for your ten employees. Or pay supply vendors for your manufacturing items. What can you do to raise funds? Do you have enough insurance to cover this? Maybe you don’t and your accountant embezzles from you! What do you do to keep operations going?
You’re the sole proprietor and learn you have cancer or some other significant illness that may take long term recovery. At what point will you determine whether you can continue your business or not? If you aren’t doing it, who can?
What else could go wrong? Only you know what would be a catastrophe for you. Write out these worst case scenarios and take some time to figure out what would you do. A crisis is far easier to manage when you have planned for it, than if you think nothing could possibly go wrong. Then you can really start planning on how you’d communicate what you’d do to clients, and vendors, the media and anyone else who would need to know your plan of action. And then hopefully you’ll never need to use it.