5 Ways to Protect Your Home Business as You Grow
When your residence doubles as your business, you have even more things in your home that you need to protect, both from a physical and financial perspective. Keeping your home business safe and secure requires some forethought, but when done properly, it provides you with peace of mind. Solutions range from the simple to the more complicated, but you can also get more bang for your buck when you plan. Some things can be security-related, while other solutions protect your business in other ways. Here are some ways to keep your home business secure as it grows bigger.
It may shock you, but you can lose your assets in a heartbeat if you have a legal issue. Liability can put your long-term business future at risk if you do not protect yourself accordingly. You should retain a lawyer to find out how you can keep your assets safe even if you have legal problems. One way to do this is by forming a limited liability corporation (LLC) that protects you as the owner of the business. Next Level Success explains that an LLC is the best way to incorporate your company if you have a limited budget. In addition to incorporating your business, you want to make sure that you are properly licensed and are able to run a business out of your home.
Upgrade Your Security
Your business also needs to be physically protected in order to safeguard the business assets that are in your home. There are benefits of placing a camera on your front stoop that exceed just having peace of mind when it comes to protecting your business. You can see who is approaching your business as well as monitor what happens after hours. You can now link your camera to your mobile device so you can have control no matter where you are. If there are packages left at your door, you have greater visibility and recourse in case something happens to them.
Secure Your Files
If you are relying on paper files to run your business, make sure that you either back them up or store them offsite. To the extent that you are able, you should consider switching over to electronic files in order to minimize the paper that you use. However, your paper files should be protected if you continue to use them. The last thing that you need is a mishap elsewhere in your home to disrupt your business continuity by rendering your paper files unusable. Consider cabinets that are as fireproof as possible if you need to store paper files in your home. Also, make sure that the files are under lock and key in case your home is broken into in order to protect your papers.
Protect Your Networks
As your business grows, you will likely be relying more on technology to conduct operations. Just like your physical business can be at risk, so can your business network. According to Norton, you should hire some information technology help to provide the right level of security to shore up any vulnerabilities that you may have to those who seek to do your business harm online. Increasing network security can protect your customer accounts and any business that you conduct in cyberspace. You should commission a test of your vulnerabilities and then hire help to shore up those problem areas. All it takes is one hack and it can put you out of business.
Small business insurance policies will protect you in the event that something goes wrong. You can be protected from a legal perspective as well if there is some injury to someone on your property. Alternatively, it can protect your property itself in case there is an accident or malfunction. Insurance will pay out to either fix the equipment or property or replace it depending on the damage. Study your policies and make sure that you have enough coverage to protect against all contingencies. The worst thing that can happen is that there is a mishap and you think you are covered but you are not.
Your business needs to be secured as it grows in order to maintain its continuity and protect your assets. An unexpected disaster can spell the end for your small business if you don’t make a contingency plan for when the worst happens. Carefully think about all of the places where you need extra protection and start there.