IS YOUR BUSINESS READY FOR ANYTHING?
For most business owners, typical days in the office or at the jobsite consist of blocking off time for replying to emails, returning phone calls, and attending meetings scheduled for the day. You know, smooth and routine, always predictable…. SAID NO BUSINESS OWNER EVER.
There is no such thing as “routine” in the life of a business owner. The tough reality for all business owners is that there will come times when “business as usual” is interrupted with circumstances that you did not plan for, situations that are out of your control.
One such event occurred in Chattanooga in 2020. A catastrophic tornado touched down and destroyed both homes and businesses in the East Brainerd area of the city.
Suddenly, life was upended and businesses in the area were forced to close for repairs/remodeling. While insurance covered many of the damages, there were still out-of-pocket expenses needed to get many of the affected businesses up and running again.
Natural disasters are not always to blame for unexpected expenses, though. What do you do when equipment breaks down? Are you prepared for the key employee that suddenly turns in their 2-weeks’ notice? How about a sudden supply chain backlog?
Sadly, these unexpected expenses can be very stressful and financially devastating if you are not prepared. For many small business owners, it often feels as though making payroll and the timely payment of bills leaves their bank account near zero until the next client payment comes through.
The solution to saving your sanity, however, is to be ready.
One way for business owners to be ready is to create a savings account and develop a pattern of setting aside money on a regular basis. When needed, it is there for you. To effectively plan ahead, set up a line item in your budget so that money is available for when these unexpected events occur. Be READY for anything, so that nothing will ever slow you down.
If we can assist your business with future-proofing finances, give us a call at (423)207-2497!