More than just money goes into setting up and running a successful business. In fact, its effort, time, and emotional investment as well. Of course, with so much being involved, protecting your business is always a chief concern for owners and managers. Although, with so many varied factors that can become potential threats, it isn’t the easiest thing to do. Happily, you can find some advice on how to best safeguard the success and longevity of your business below. Read on to find out more.
No one wants to believe that their business is vulnerable to crime. However, you can never guarantee that the people that work for you, or that those buying your products will treat your company with the same respect as you do. Sadly, that means on occasion, your business can be a victim of crimes such as theft, vandalism, and even fraud.
Of course, because each of these issues is so different, they do need a range of preventative strategies to be put in place. For example, if the concerns with theft, you have centre around shoplifting by people in-store, boosting your business’s security is a must. Something that you can do by installing CCTV cameras at key points, as well as investing in security tag readers for all of the exits. Some stores even find it helpful to employ security guards as well, especially if shoplifting has become a significant problem.
Unfortunately, not all thefts are committed by outsiders in a business. In fact, sometimes, a company can be targeted for this sort of crime from the inside by its own employees. Of course, if you are concerned about internal theft, there are some strategies you can use to minimise the risks and protect your business.
The first is to install lockers and ask everyone to leave their bags and personal belongings in there. This being an action that reduces the ease of getting stolen items out of the building undetected. Additionally, CCTV cameras in critical positions such as by the tills can help to prevent any mishandling of money or returned goods as well. You may even want to introduce random checks as a way to discourage theft too.
Then there are the issues with cybercrime that you need to defend your business against. Something that can be a serious problem, with so much of everything companies do now being online.
In particular, it’s crucial that you make sure to implement tactics that will help to protect our company from Malware. This being any software that has a malicious intent such as Ransome wear, viruses, and spyware.
Recently issues with Ransome wear have come to the foreground because many smaller businesses have been targeted. A situation that often involves the freezing of online resources and systems, and the threat to delete them if a ransom isn’t paid. Of course, paying the ransom is nearly always a bad idea as it just perpetuates this form of criminality and could even make your business into a further target. Although, if you do choose to pay, be sure to negotiate your terms with the criminals first. Something that is often possible because they provide details of how to contact them to make the payment!
Alternatively, depending on the type of ransomware you are affected with, it may be possible to cleanse your system. Something that you can try and so yourself, although it’s probably a better idea to get your IT company to handle this for you.
Of course, doing this will only get rid of the Ransome wear and not give you access to any data that is lost. This means that you will need to reboot your system from any backups you have. A situation that means regular server or cloud backups are essential if you are to protect your business from harm.
Another type of cybercrime that can threaten the safety of a business is fraud, mainly the stealing of customers financial details to use elsewhere. In fact, this can create a double issue because it does not just present a challenge to the trust you have built up with your customers. It can also cause a potential PR nightmare as well. Something that we will discuss in more detail later in the post.
The good news here is that there are some things you can do to prevent the theft of customer’s financial details in your business. One is to avoid the use of any USB sticks, as then data cannot be downloaded and taken off-site. Additionally, not allowing the use of mobile or smartphones in the workplace can prevent any pictures of financial details being stolen or recorded too.
Finally, making sure that your IT security is robust as possible is essential because such a threat can also come from outside your business as well as inside. An issue that your IT provider should be able to advise you on.
PR / complaints
Effective safeguarding of your company also requires that you pay attention to public relations. That is how the public at large, and particularly your targeted demographic perceive you. After all, if those you are hoping to sell to do not hold your brand in high regard selling enough units will be a real uphill battle.
With that in mind, there is a range of tactics you need to put in place when it comes to protecting your company’s reputation. One is to do all that you can to encourage positive reviews, especially on independent sites like TrustPilot. The reason being that these are seen as more authentic and so will have a more significant effect on customers buying decisions.
Happily, doing this isn’t as laborious as it may seem at first. In fact, it is mostly about paying as much detail to the customer’s experience as possible. From when they first step into your business or search for your website all the way through to aftercare. In particular, making sure your buying process is easy and intuitive for your customers is essential. Oh, and being able to guarantee you can provide the products you need, within the time frame they want is important too. Additionally, providing an easily accessible customer service, that is focused around solving any problems is crucial. The reason being it will help you to go above, and beyond customers expectations to not just deliver, but delight as well.
Mistakes and oversights most definitely come under the banner of PR and complaints as well. Whether they are from clients or employees, mostly because they have the potential to severely impact on the public’s opinion of your business negatively.
To that end, you must minimise the chances of any mistakes occurring. Something that you can do by having transparent processes and procedures for any possible eventuality. Quality control is another vital aspect of preventing errors and oversights as well. Lastly, making sure you are covered even if things do go wrong is crucial here. After all, you can minimise the likelihood of mistakes but never eliminate them entirely.
Happily, by investing in products such as Business Insurance from Krywolt if something does go wrong, your company will be protected and covered. Something that means you won’t have to find the money to fight a court case or pay compensation if things do not go in your favour. A situation that could not only damage your business’s reputation but wipeouts its bank account as well, causing further catastrophe and the inability to continue trading.
Another essential way that you can help to safeguard your business is to make sure you stay ahead of your closest competitors. In fact, without an edge in the marketplace, your business can be left in the dust, even if your product and concept is sound.
Luckily, there are a range of methods you can use to stay ahead of your competition. One of these being to take pains to safeguard your intellectual property. In fact, with the exchange of information being so instantaneous now the spread of ideas happens at lightning speed. Of course, this is excellent news in terms of marketing, but not so useful if you want to stop plagiarism or cheap knock-offs being generated for a quarter of the price in China.
With that in mind, making sure you protect your intellectual property is vital here. Something that you can do by applying for a copyright or a patent on your product or asset. Additionally, you can further protect your products by branding them in such a way that anyone buying cheap fakes will miss out on the entire experience. This being something that can be surprisingly effective, as, for many customers, the lifestyle that a product represents is just as important as the item itself.
In summary, if your goal is to protect your business, there are several things you need to consider. The first is safeguarding it against crime and cybercrime. While the second is making sure you maintain a positive public image. Lastly, you need to be able to keep up with your competition. If your business is to be successful and to continue trading over the long term.
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