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10 tips to make sure your small business is prepared for anything

Every small business has unique challenges, but the economy, consumers, and your own planning (or lack thereof) can throw you curve balls – here are ten ways to be prepared through proper planning.

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Small business preparedness

What happens if your co-founder dies, will you be left in a legal nightmare? When is the right time to think about retirement, or even selling your company? Do you even have a cash flow plan or heck, a business plan pulled together, or did you find a passion and run with it? If you’re a small business owner, operator, or leader, these and many other scenarios are extremely important to consider before they are problematic.

Many small businesses are a mess, so if any of the above made your blood pressure increase, you’re not alone, but we’ve compiled some articles from this year that address these very topics so that in your preparedness, you’re ready for anything and your house is in order – what better way to keep the money flowing so you can focus on your passion?

10 tips to make sure your small business is prepared

Click any link below, they will each open in a new tab so you won’t lose your place here:

  1. 4 simple steps to creating your own company cash flow plan
  2. Profitably slays the need for Excel, streamlines business planning
  3. Your secret weapon in business: setting up your SWOT matrix
  4. Create your own expense model and projections: how and why
  5. Selling your business: strategic vs. financial buyers
  6. What happens to a company when a founder or CEO dies or is disabled?
  7. When is the ideal time for a small business pro to plan for retirement?

So what did you learn? Was there anything you hadn’t considered before, or perhaps something you’d been procrastinating about dealing with? It’s tough for small business operators because in many cases, leaders wear multiple hats, or maybe all of the hats in some cases. The best way to fight fire is with preparedness and know-how, and we hope that after doing your homework here, you’re steps closer to preparedness.

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The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

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