Dirty Little Secret - Part I

Choose your suppliers carefully!

This time next week I'll be at the Excel Olympic venue, cheering on my friend Martin Stamper as he goes for gold. It was an unexpected pleasure meeting him last year whilst networking with athletes. Martin makes it easy to follow his progress thanks to social media - (Look out for promo code "martin" at the bottom of this newsletter).

The unexpected enchants us so it makes sense to take risks in business too, as long as they are calculated. Assessing near misses in business is a great way to assess risks

The nearest hospitality miss came before the opening ceremony, when an hotel suffered an outbreak of food poisoning. Part of the Australian team quickly upped and left yet their lost bookings are a tiny loss compared to the damage to the hotels reputation. I hope they assessed the real impact of such an event when they received the initial booking. It's best to do this early. 

Some of the risks of doing business are uninsurable and businesses don't always have a process in place to tell them apart. The risk that seems to concern most of the growing businesses we've helped recently is the people they rely on to do business.

One client recently commented; "customers have been refunded because they can't handle the sales. No stock. Terrible really. But the lesson is (as always) choose your supplier partners carefully...."   

We have helped hundreds of business owners get a good night's sleep by reducing risks of unexpected costs when they rely on others. Have you "stress tested" your supply chain lately? If not, we might be the people that can help.

How long businesses survive when the worst happens is down to planning and continuity of cashflow. This has been the main concern of businesses we've helped this Olympic year.

• Making mistakes (albeit innocently) in their duties  
• Tribunals following allegations of discrimination  
• Wrongful or constructive dismissal costs 
• Copyright and other intellectual property infringements 

Here's a link to our guide for Directors outlining who is most likely to take action against them and typical reasons. Or you can go direct to our immediate quotation service and find out about protection in just a few clicks.

Protection for business owners, Directors or those with responsibility is just a few clicks away Click here for an instant quote >>>  

Some of those that attended our workshops went on to ask for our help in engaging with their current clients and prospects.

A Networking Seminar for your Contacts or Clients? >>> 

"We have gained both clients and more friends as a result of the excellent event."  Neil Mutton, CEO, Ablestoke Click here for more details >>>