Schools and office building have fire drills where everyone knows what to do in case of an emergency. Many of us have wills in place and we even have Power of Attorney documents where we name an individual to help us make legal and financial decisions for us in case we lose our mental capacity.
Knowing that there is a Plan B will give you piece of mind so the best thing to do is to come up with a plan of action and going back to the good ol' Boy Scout rule… be prepared!
One of the things that need to be addressed is the dreaded word – insurance.
The reality is insurance plays an important role in protecting the hard work you put into your business. It is more than car, house and home office insurance. This coverage only scratches the surface.
Other types of insurances you need to look at for businesses are disability, liability, life, business disruption, etc. I am not an insurance expert and I don’t sell insurance for a living nor do I get a commission for promoting this. But I do know enough to say you need to consult with an expert to see what type of coverage is best suited for your business. You need to protect yourself and your family.
Your regular insurance company will most likely not be able to handle business insurance. If you need a referral to an insurance agent in Calgary specializing in the needs for small businesses, contact me at http://bit.ly/2alxqDU.