Be Prepared!

ukpono (66)in Steem4Entrepreneurs • 8 days ago (edited)

If you are an aspiring entrepreneur or currently a business owner, please come closer.

You will agree that running a business involves a lot of risks. But here's the real deal:

Running a business without a proper plan is even riskier.

Understanding Business Risks

When talking about risks, the mind usually focuses on financial and legal aid issues like wrong investment, non-compliance with laws and so forth. However, there's something bigger — operational and physical risks.

These are specific types of risk that disrupt business operations, leading to the loss of lives or properties. They can be caused by internal failures such as human error, employee fraud, or poor workplace safety practices, aand external factors like natural disasters, health crises, cyberattacks, etc.

_{A fire outbreak that led to the loss of lives and properties recently. Reported by Vanguard News}

Importance of Business Continuity Assessment (BCA)

To protect your business from unexpected disasters like fires and emergencies, you need to conduct a proper Business Continuity Assessment (BCA).

A Business Continuity Assessment (BCA) is crucial for companies of all sizes.

It helps your business identify potential vulnerabilities, evaluate their impacts on the business, and develop strategies on how to tackle these unexpected events without disrupting daily operations.

If you've read Michelle Obama’s novel, Becoming, you'd come across the part she wrote about her brother, Craig, creating a fire drill for their family. They planned on how to carry their father, who had multiple sclerosis and used crutches, down the stairs to safety if an emergency arose.

That's similar to business continuity assessment and planning.

Benefits of Conducting a BCA

When you conduct a BCA, you can:

Save lives and prevent injuries in case of inevitabilities.
Protect your brand and business reputation
Prevent total collapse of your business when disaster strikes.

_{In Japan, fire escape chutes are installed on the roof to make evacuation easier during emergencies like fire outbreak and earthquake. Language: Japanese. No copyright infringement intended.}

Proactive Planning

While attending a business acceleration programme, I learnt the following:

The need to,

Train my staff on fire safety and exit plans in the case of emergencies.
Install functional fire extinguishers, alarms, and proper electrical appliances.
Have emergency contacts and first aid on standby.

We still ask ourselves, “What if there is a war, another pandemic or electricity fault resulting from lightning?”

“What if a worker is sick?”, etc.

In summary,
✔️ Running a business without a proper plan exposes you to a higher risk
✔️ Conducting a Business Continuity Assessment (BCA) is essential in order to handle unexpected events so they don't disrupt your business operations.
✔️ Train your staff on fire safety, install safety equipment, and have emergency contacts and first aid on standby.

The core of this discussion is on the need for entrepreneurs to be proactive, not reactive. The survival of your business lies in how well you plan to avert uncertainties.

Wishing you all the best!
_{Published 22 September 2025}

#business #steemexclusive #steembetterlife #entrepreneurship