August 17, 2018

Entrepreneur: The Science of Preparation for the Worst

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By Telford Aduda

Carrying an umbrella and a rain coat on a bright summer day does not show your madness, it only shows that you think ahead. It is always a good thing to hope for the best but it is better if you prepare for the worse.

Remember the scout’s motto; Be Prepared… the meaning of the motto is that a scout must prepare himself by thinking and practicing how to act in any accident or emergency so that he is never taken by surprise.

The best moto that an entrepreneur can ever have is; be prepared. There comes a time when the storm come to shake us. This happens in business and life in general. The amount of damage caused by the storm will probably depend on whether you had prepared for it or not.

For example, if you are in the business of selling fuel, you know that one of the possible disasters that may occur is a fire at your premises. It is not a crime installing fire extinguishers and emergency doors. That is called, preparing for the worst scenario.

In entrepreneurship, there are many situations that can even cause one to stop doing a particular business. Distress ranging from natural disasters like tsunamis, earthquakes, floods, drought, and economic meltdowns to common distress such as theft, fire breakout, and negative reception of your product by customers. Small businesses are particularly vulnerable in times of crisis, because the distress can easily sweep them away.

The following steps will help you to prepare for any crisis:
• Identify potential crises.
• Analyze your company’s state of readiness.
• Check the crisis readiness of your team.
• Research your company’s record to see what previous crises it has faced and what the outcomes were.
• Build the image of key leaders such as the CEO and Managers. Review your social media status
• Examine and strengthen key relationships
• Schedule media training sessions
• Stage crisis readiness simulations
• Update or create a crisis response plan, and name an ongoing crisis team.

“The storm is coming whether you’re aware of it or not, and whether you’re prepared for it or not. Thank God you have a man like me in your life, a man with a variety of umbrellas for sale in an affordable range of prices.” These are the words of Jarod Kintz.

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