These Easy-to-Implement and Small Changes Can Help Protect Your Business

Getting a business off the ground is hard, let alone steering it toward lasting success. In fact, 20% of new businesses don’t make it to their second birthday, and merely a quarter of businesses make it past the 15-year mark.

With these sobering figures in mind, any opportunity to protect your business, whatever its size or industry, should be considered.

While it’s obvious that a robust, well-rounded business plan, a creative and strategic marketing blueprint, and a team composed of top talent are vital components to what makes or breaks a business, other more minor details can help to keep you on track. Read on to learn about some minor changes that can protect your business.

Destroy Sensitive Papers and Expired Data Securely

Sixty-eight percent of organizations in the United States have experienced a data breach in the last 12 months. In addition to installing data encryption, backing up files, using complex passwords, and storing papers securely onsite, a portion of budgeting should be dedicated to secure document destruction with a professional shredding company.

Not only will this destroy sensitive papers beyond repair, keeping them from unauthorized access and corruption, but it may also keep you on the right side of some legislation.

Keep Team Members Onside

Employee retention is vital. Loyal team members will champion your company and do their best to boost your brand. Moreover, keeping a core team means avoiding the costs incurred in securing and onboarding replacements — it costs approximately $3,000 to train and fully integrate a new employee.

How retaining team members looks depends on your daily operations and the nature of your industry. However, dedicating time to diversity and inclusion training, offering a flexible work schedule, providing opportunities for upward mobility, rewarding outstanding work, and offering the ability to learn and finesse skills will all go a long way toward job satisfaction.

Institute a Green Policy

A commitment to sustainability can entice employees, clients, shareholders, and customers. A survey by IBM found that 67% of candidates polled were more willing to apply for a job with an environmentally sustainable company, and 68% were more likely to accept a position from a company that embraced eco-friendly practices.

In another poll of consumers by Deloitte, 94% of respondents wanted companies to “make sustainability integral to their business and purpose.”

Creating a green policy needn’t be an unattainable goal. For one, as mentioned above, shredding expired paper and defunct data with a company that has a green mandate is an excellent place to begin. Start small by encouraging kitchen composting, switching office lighting to LEDs, implementing a ‘print what you need’ policy, and bike or walk-to-workdays (or work-from-home days) to reduce commuter emissions.

The Takeaway

You can always protect your business from hardship, struggle, and potential closure by taking significant strides, like boosting marketing budgeting, fostering an effective sales strategy, and building a solid team. However, there are smaller, more accessible, and cost-effective changes that you can implement that can also protect your business in the long run.