Extra Points: Ready for the Storm

Dan_Weedin_034Last week, the Puget Sound area had its second straight year of significant snowfall. For us, it’s between 8-12 inches and that’s enough to create suspension of operations for many businesses.
I received a phone call from a client in the hospitality industry asking if snow was enough to make a claim for loss of business income. I had to explain that for any loss of income claim, there needed to be direct damage loss from a covered peril, like a fire.
It was a good question to ask. It also brings to light the fact that insurance isn’t the only answer to calamities that can negatively impact business. While properly programmed insurance is a huge help when property has been damaged, there are many perils to be concerned about and prepared for.
If you own or are a key business leader, here are a few obstacles that are very real and can damage a business:
Suspension of operations due to weather; loss of power and connectivity; bad behavior by individuals causing reputation damage; loss of primary client or supplier; loss of key person, including the owner. Too often, business leaders focus on only growth and forget what impact to growth a suspension or reduction in operations has.
While some may be eligible for insurance help, it’s best to create a plan to prevent and recover. Not doing so – in advance – can kill a business, even if insurance is in place.
Your assignment is to make prevention and disaster recovery a part of your overall strategy. That way, you and your business are prepared to thrive in any situation.
P.S. If you think this only applies to a business, you’re sadly mistaken. The same is true for your personal life. Consider yourself the CEO of your family, however that may be structured. Take on the same assignment!
Be Unleashed!
Quote of the Day:
“What lies behind you and what lies in front of you pales in comparison to what lies within you.”
~ Ralph Waldo Emerson
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Unleashed is the registered trademark of Toro Consulting, Inc.

Author: danweedin

Consultant / Speaker / Author

2 thoughts on “Extra Points: Ready for the Storm

  1. Spot on.  Like it!

    Carpe diem,

    Art Koch | Art Koch’s Profit Chain® | Entropy Busters® | Inventory Is Evil!™

    Mobile; 1-336-260-9441

    art@arthurkochmgt.com

    CONFIDENTIALITY NOTICE: This e-mail message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information protected by law. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message.

    From: Weedin 360 Reply-To: Weedin 360 Date: Monday, January 20, 2020 at 2:42 PM To: Arthur Koch Subject: [New post] Extra Points: Ready for the Storm

    danweedin posted: “Last week, the Puget Sound area had its second straight year of significant snowfall. For us, it’s between 8-12 inches and that’s enough to create suspension of operations for many businesses. I received a phone call from a client in the hospitality indu”

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