I met an old colleague in a Newport café the other day. When I say old, I obviously mean ‘former retiree’, but, well, you know, it wasn’t last year. This lovely lady had walked in from Muxton with two of her friends, and as they were just finishing their coffee she told me they were setting off to walk all the way back, something they like to do every Wednesday. I’d just walked around 100 yards from work looking like a well-stuffed turkey in a suit, while she and her mates looked like spring chickens in their walking gear.
The next morning as I waited for my porridge to ping I watched a cheery conversation on the breakfast Beeb about how unhealthy I am. “If you don’t do half-an-hour’s exercise a day (tick) and eat too much sugar and salt (tick – else where’s the taste?), sedentary lifestyle (tick – everything would fall off my desk if I carried it around), etc, (tick) etc ( tick)…” I put a little less Demerara on my porridge before walking a bit more quickly back upstairs to get ready for work, trying to work out how I was going to change things, because according to Dr Doom and his merry friends on the TV everyone else had a 40% chance of living a lot longer than me.
The fact I’m quite well insured probably isn’t much comfort (unless the afterlife is as good as they say), and it doesn’t take away the inconvenience for my family of me, popping my clogs too early.
It is much the same story with most insurance to be honest. We can insure your car, your home, your business and your cat, but that policy will only help you put things right afterwards. What it won’t do is take away the inconvenience or anxiety of having a bump in your car, having your Great Great Grandfather’s irreplaceable watch stolen, carrying on your business when your factory has burned to the ground, or bring Cooking Fat back to life.
The answer of course, is Risk Management. If I remove my posterior from this well-padded chair and get a bit of a sweat on, hide my goody-tin full of Sherbet Dib-dabs and Topics and taste my food before I shower it with salt, I will hopefully reduce the risk of an early trip to the crematorium.
If you don’t leave your car keys where they are easy to find, you’ll reduce the risk of some scally-wag making you catch the bus in the morning, and if you take Tiddles for her jabs regularly she might not use up her lives so quickly.
Risk Management for your business is vital. Identify the risks and take action to mitigate them. Think about everything that could affect it, not just your premises, but how important your customers, your suppliers, your staff, and you personally are to its well-being. Could changes to external economic or political factors locally or abroad affect you, and if they happened have you thought about how you would adapt?
What else is important to your business?
Peace of Mind may lie in a chat with someone at Henshalls about Risk Management and Insurance.
Oh, and yes, porridge is lovely with your chosen measure of Demerara sugar.