You’ve finally got your home Internet business going. You have a good client base, a consistent work routine, and a nice office space. All is well.
But have you thought about what happens if something unexpected happens?
A pregnancy, an illness, even a family crisis?
You can’t always prepare for everything, but you can at least think about some of the stumbling locks life may throw your way.
Are You Ready for the Unexpected?
Part of owning a business is dealing with the unexpected.
Sure, it may be tough but if everyone went under when things get tough, we’d all be in trouble. You’ve got to have some back up plans in place, just in case.
• Have back up help – Maybe your partner, assistant or friend can take over for you for a while. Yes, you’ll have to pay them, but with your income still flowing, it’s better than shutting the business down if you can’t do everything yourself any longer.
• Make sure your health insurance is up to date – Owning your own business requires you to have your own health insurance, and this isn’t something to overlook. You never know when you may get sick, need a root canal or have an unexpected injury. With health insurance and disability insurance, you’ll be a little better off.
• If an unexpected pregnancy strikes – think it through. People have babies all the time and adjust; you may be able to still have your business. Perhaps you’ll need to cut hours or take some time off for a bit. If this is a complete surprise and not something you can handle, you may need to research some things as the following article looks at like “Unplanned pregnancy: How to give your baby up for adoption,” but try to think everything through before making any hurried decisions.
• See if you can cut back but still maintain enough – Maybe you’ll just need to cut hours per day you work, or take an extra day a week. You may have to decline new business for a while, but if you can maintain your current clients, you should be alright.
• Save for a rainy day – If you can, put some of your income away so you’ll be financially covered in case something unexpected comes your way. We are talking anything from health issues to equipment failure, and you need to be financially ready. Sure, it’s hard to prepare for everything, but a little may stretch enough to get you through.
You’ve got a lot of responsibility running a home business.
The glory of working for yourself can be scary when the unexpected comes your way.
Try to plan ahead and be ready for anything, or at least something should it occur.
Photo credit: Image courtesy of adamr at FreeDigitalPhotos.net
About the Author: Heather Legg is an independent writer covering topics related to small business, social media and working from home.