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Don’t Let the Little Things Bring Down Your Business
By businessbroad | March 6, 2008
No matter how well you run your business, there’s always the possibility that you’re overlooking something small that could ultimately bring down everything you’ve worked for. A few years back, I knew a woman who owned a small florist and gift shop who occasionally allowed one of her employees to make deliveries to customers she didn’t like dealing with. While there’s no law against doing it, she hadn’t given much thought to the issue of car insurance.
Neither had her employee. The girl she was sending on delivery runs was driving a car that didn’t even have the state’s minimum liability coverage. When she had an accident, she was able to blame it on the business and get a hefty settlement. The business went under, and because it was a sole proprietership, she ended up losing much of what she had spent her life saving for. Truly a sad story, but it just goes to show you that you have to make sure all your bases are covered. Don’t ignore things like insurance, permits, or nagging details of your local laws. It could definitely come back to haunt you.
Topics: Brick & Mortar |