{"id":1540,"date":"2017-03-02T23:44:46","date_gmt":"2017-03-02T23:44:46","guid":{"rendered":"http:\/\/fusephase.com\/?p=1540"},"modified":"2022-05-18T22:19:19","modified_gmt":"2022-05-18T22:19:19","slug":"prepare-for-the-unexpected","status":"publish","type":"post","link":"https:\/\/fusephase.com\/blog\/prepare-for-the-unexpected\/","title":{"rendered":"How to Prepare Your Business for the Unexpected"},"content":{"rendered":"\r\n

If there’s one thing that’s certain, both in life and in business, it’s that nothing is ever certain. That’s why you’ve got to take the necessary steps to prepare for the unexpected whenever possible.<\/p>\r\n\r\n\r\n\r\n

With all the changes in the federal government and the uncertain impact on businesses and tax rates in the years to come, it’s more important than ever to have a solid financial foundation for your growing business.<\/p>\r\n\r\n\r\n\r\n

Having your finances on track will help to ensure your business’s chances for survival in the long term, no matter what happens. And as we’ve learned during the last couple of years, in particular, anything<\/em> can happen.<\/p>\r\n\r\n\r\n\r\n

In the spirit of preparing for the unexpected, we’ve put together a few quick tips to\u00a0help your business to\u00a0weather any potential storms that may come your way in the weeks, months, or years to come.<\/p>\r\n\r\n\r\n\r\n

3 Ways to Prepare for the Unexpected:<\/h2>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

1. Pay\u00a0off your debts<\/h3>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

Getting your business ‘out of the red’ and ‘into the black’ should be a top priority. Pay off everything you can, as soon as you can. Make frequent small payments\u00a0if you have to \u2013 just pay off any debt your business has sooner rather than later.<\/p>\r\n\r\n\r\n\r\n

If your business has a financial shake-up\u00a0of some sort, the last thing you want is for your business to suffer because you’re having to pay off debtors rather than putting the money toward your business.<\/p>\r\n\r\n\r\n\r\n

2. Organize your finances<\/h3>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

If your business finances are a mess, there’s no way to know if you’ll have the money you need, when you need it.<\/p>\r\n\r\n\r\n\r\n

\r\n

It’s more important than ever to have a solid financial foundation for your growing business.<\/p>\r\n<\/blockquote>\r\n\r\n\r\n\r\n

Set aside some time each month to review your finances and update your records with the most accurate data on your revenue and expenditures. How can you cut costs? What tasks can you streamline to make your business more efficient?<\/p>\r\n\r\n\r\n\r\n

Don’t have time to organize your finances\u00a0yourself? Hire a financial pro<\/a>\u00a0who can help you stay on top of this.<\/p>\r\n\r\n\r\n\r\n

Read more: <\/em>5 Ways to Cut Costs for Your Small Business<\/em><\/a><\/p>\r\n\r\n\r\n\r\n

3. Build up your emergency fund<\/h3>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

You should always (read: always, always, always!<\/em>) have\u00a0a financial emergency fund set aside for your business so you’re ready whenever unexpected expenses come up. Ideally, your emergency fund should be able to keep your business afloat for at least three to six months.<\/p>\r\n\r\n\r\n\r\n

All of these things will help your business stand on solid financial ground, even if the you-know-what hits the fan. Anything you would add?<\/p>\r\n","protected":false},"excerpt":{"rendered":"

If there’s one thing that’s certain, both in life and in business, it’s that nothing is ever certain. That’s why you’ve got to take the necessary steps to prepare for the unexpected whenever possible. With all the changes in the federal government and the uncertain impact on businesses and tax rates in the years to …<\/p>\n

How to Prepare Your Business for the Unexpected<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":1,"featured_media":5568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"yoast_head":"\nHow to Prepared for the Unexpected in Business | FusePhase<\/title>\n<meta name=\"description\" content=\"How well you prepare for the unexpected for your business can determine whether it will survive challenging times. 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