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Running a business is about balance. You have to balance your weaknesses with greater strengths. You have to balance your team with talented candidates in many different disciplines. You have to balance threats with opportunities, or at least proactive measures to reduce those threats.
Threats to your business can come in many forms, from conceptual failures to real physical consequences. Some of the most dangerous threats are financial threats, which can escalate your costs, stifle your revenue growth, or in some other way compromise your profitability.
As you grow and develop your business, be sure to avoid these five major financial threats.
1. Losing a Major Client
Once you get your business up and running, you’ll probably have a handful of major clients or a major segment of your audience that you rely on for the majority of your revenue. The Pareto principle applies here for most businesses—approximately 80% of your business (or revenue) will come from 20% of your customers.… Read More
The 5 Biggest Financial Threats to Your Small Business
Running a business is about balance. You have to balance your weaknesses with greater strengths. You have to balance your team with talented candidates in many different disciplines. You have to balance threats with opportunities, or at least proactive measures to reduce those threats.
Threats to your business can come in many forms, from conceptual failures to real physical consequences. Some of the most dangerous threats are financial threats, which can escalate your costs, stifle your revenue growth, or in some other way compromise your profitability.
As you grow and develop your business, be sure to avoid these five major financial threats.
1. Losing a Major Client
Once you get your business up and running, you’ll probably have a handful of major clients or a major segment of your audience that you rely on for the majority of your revenue. The Pareto principle applies here for most businesses—approximately 80% of your business (or revenue) will come from 20% of your customers.… Read More
I’m a safe driver. I don’t do risky things. Someone I know would never sue me.
Sound like something you’d say? When it comes to truly terrible events, many people have an “It can’t happen to me” mentality. This belief is not only false—it’s also dangerous.
“Believe me when I say a 
Trees can be tricky, but for the most part homeowners are responsible for what falls into their own yard. So if your neighbor’s tree falls in your yard, your homeowners insurance would typically help cover the cost of removing the tree and remedying the damage it caused, after your deductible.
The same is true in reverse: If a tree on your property falls in your neighbor’s yard, your neighbor should file a claim with his or her insurance company.
In most cases, neighbors are able to work things out without too much trouble. If there’s ever an issue, you can rely on your claims adjuster to help straighten everything out.
Preventing tree damage
Preventive measures matter when it comes to trees. Start by looking for signs of distress such as dead limbs, cracks in the trunk or major limbs, leaning to one side and branches that are close to a house or power line.…