{"id":1299,"date":"2010-10-27T19:30:39","date_gmt":"2010-10-27T08:30:39","guid":{"rendered":"http:\/\/wordconstructions.com.au\/blog\/?p=1299"},"modified":"2010-12-14T13:46:34","modified_gmt":"2010-12-14T02:46:34","slug":"risk-acknowledgement","status":"publish","type":"post","link":"https:\/\/wordconstructions.com.au\/blog\/2010\/10\/risk-acknowledgement\/","title":{"rendered":"Risk acknowledgement"},"content":{"rendered":"<p>How often do you consider the risk of running a business?<\/p>\n<p>As much as we&#8217;d love business to be about profits and perhaps doing what we love, there are also risks to running a business and ignoring those risks can lead to all sorts of problems. Acknowledging risks, however may mean yu can reduce the likelihood of them occurring and allow you to <a title=\"planning ahead for risks and problems\" href=\"http:\/\/wordconstructions.com.au\/blog\/2008\/08\/crucial-planning-ahead-for-problems\/\" target=\"_blank\">plan ahead<\/a> to make dealing with a risk easier.<\/p>\n<p>Here are some risks you may want to look at for your business:<\/p>\n<ul>\n<li>investigate anyone you are doing large transactions with &#8211; you can do a credit check, <a title=\"AustLII databases for civil claims\" href=\"http:\/\/www.austlii.edu.au\/databases.html\" target=\"_blank\">check if they have civil claims against them<\/a>, ask for bank references, and so on<\/li>\n<li><a title=\"web host security\" href=\"http:\/\/wordconstructions.com.au\/blog\/2010\/09\/website-hosting-security\/\">security offered by your web host<\/a><!--more--><\/li>\n<li><a title=\"insurance to protect your business\" href=\"http:\/\/wordconstructions.com.au\/blog\/2007\/11\/protecting-your-business\/\" target=\"_blank\">insurance<\/a> for physical issues (fire, flood, theft), professional indemnity, customer and staff safety, your income (income protection or salary continuance cover), delivery coverage, and so on<\/li>\n<li>losing information (computer problems, &#8216;the dog ate it&#8217;, misplacing a file or phone, etc)<\/li>\n<li>intellectual property (protect it with a trademark, limiting access to it and keeping records)<\/li>\n<li>fire, flood and other natural or man made disasters<\/li>\n<li>failure of suppliers to meet deadlines<\/li>\n<li>fraud<\/li>\n<li>human error (reduced by automating some tasks and having written procedures for others)<\/li>\n<li>being under resourced (eg key staff being sick, sudden influx of orders you can&#8217;t handle, insufficient cashflow to purchase raw materials)<\/li>\n<li>paying for marketing that provides little return or value<\/li>\n<\/ul>\n<p>What other risks have you faced in your business? Were you able to plan ahead for them?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How often do you consider the risk of running a business? As much as we&#8217;d love business to be about profits and perhaps doing what we love, there are also risks to running a business and ignoring those risks can lead to all sorts of problems. Acknowledging risks, however may mean yu can reduce the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[53],"tags":[637,1122,91,831],"class_list":["post-1299","post","type-post","status-publish","format-standard","hentry","category-business-info-tools","tag-insurance","tag-physical","tag-plan","tag-risk"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/1299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/comments?post=1299"}],"version-history":[{"count":4,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/1299\/revisions"}],"predecessor-version":[{"id":1400,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/1299\/revisions\/1400"}],"wp:attachment":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/media?parent=1299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/categories?post=1299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/tags?post=1299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}