Entrepreneurs can’t Afford to have Accidents

Entrepreneurs can’t Afford to have Accidents

Most Mom entrepreneurs start out as a one-woman band.  They are doing EVERYTHING in their business with little support.  It’s difficult handing over tasks to others if you’re the kind of personality who likes to have full control of everything.

You are the kind of entrepreneur who can’t afford to have accidents.  Because you may be at risk of losing everything you worked so hard to build up if you do.

But what happens if you do?  Have an accident that is.   And you’re injured so badly that you’re laid up in hospital for weeks or months. And your car is a right-off.

Here are some steps you can take to get yourself back in the driver seat of your business as quickly and painlessly as possible. But here’s a golden tip – most of these need to be in place BEFORE something horrible happens.  BE PREPARED.

Will your small business survive if you were out of action for a few weeks or months? Here's how to prepare for the worst. #tampapersonalinjuryattorney #personalinjurylawyer Call a Good Lawyer

You’re going to need some VERY good legal Counsel and fast.  If you choose a law firm with the calibre, experience and expertise of the one you’ll find here, Tampa Personal Injury Attorney, you’ll be assured of the best possible settlement.

Call Your Insurance Companies

You’ll also want to call your insurance company to settle the accident claim as speedily as possible.

Of course, if you’ve been injured really badly, you may need someone to do this on your behalf, so be prepared:

Have all your paperwork in order, with:

  • contact details of your car insurance broker or insurance firm
  • medical insurance details
  • life insurance broker and details, especially if you have disability insurance or income protection in place

Keep all these details in a safe place (even if it’s a just a folder on your laptop or external hard drive) and make sure you’ve given a copy to your spouse, parents, a sibling or a trusted friend.

Call on an Assistant or 3

I know it’s difficult to hand over the reigns but in this kind of situation, you may have to, even if just for a short time.

  • Make a list of all the tasks you do on a weekly basis that generate income for your business.
  • List who you deal with and write down their contact details.
  • List how to do what’s need to be done.
  • Find someone (or a team of experts) who could do these if you were not able to for any reason.
  • Test them out with a few trial tasks.
  • Outsource your most important tasks so that your business continues to generate income while you’re recuperating.

Call on Your Savings

Oops! Don’t have any? Start saving now. Especially if you don’t think your business will be able to keep running without you.

Or you may be looking for an investor who can take over your business and personal payments in times when you can’t, This might mean giving away equity, or having to take out a business or personal loan.

None of this is easy to do in hospital, unless you have outsourced your Accounting.

They say a solo entrepreneur should have enough savings in the bank to keep them going for a few months for exactly these kind of eventualities.

With these measures in place, you can become one of those entrepreneurs who CAN afford to have an accident.

About Lauren Kinghorn

Visionary Digital Entrepreneur ► Mompreneur | Content Creator | Affiliate Marketer | Influencer | * Come join me at Wealthy Affiliate * inspiringmompreneurs.com/WA

Leave a Reply

Your email address will not be published. Required fields are marked *