In our fast-paced, ever-changing business world, the notion of “prevention” – which generally means doing something you don’t absolutely have to do right now – often gets lost or set aside. But with so much riding on how smoothly things run at your business, that ounce of prevention can indeed far outweigh a pound of cure later on.
Think of some of the threats your business faces: computer viruses and other tech malfunctions, on-the-job accidents, employee theft, shoplifting, lawsuits, machinery downtime and broken equipment. All of these things can slow you down and cost you money.
Here are key areas where prevention can really make a difference:
• Theft and loss prevention. Whether it’s stealing client lists and confidential data, fudging expense reports or stealing merchandise and materials, employee theft and fraud is a serious threat to small businesses. Shoplifting, employee theft and other types of “inventory shrinkage” can eat away your profits. Installing a loss-prevention program will help minimize losses. Include background checks on employees as part of your system.
• Accident prevention. Keeping things safe in the workplace is vital to a successful business. It’s not just good business, it’s also the law. For free information, the Occupational Safety and Health Administration is actually a good source for business owners. From the OSHA homepage at www.osha.gov, click on the “Small Business” tab on the upper right. There you’ll find quick links to small-business safety resources, help with compliance, tools and FAQ.
• Preventive facilities maintenance. If your facilities and equipment fall into disrepair, your business will suffer. Grainger (www.grainger.com) is the top provider of maintenance, repair and operating supplies to businesses in North America. And since there are a gazillion products and parts you might need (Grainger carries more than 800,000), their online product search is super helpful. If your business is big enough, consider outsourcing maintenance.
Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.