by Jen Hickey. Small business owners are usually well acquainted with risk. After all, starting a business is one of life’s most momentous decisions and often requires a leap into the unknown. However, you can improve the odds for your business by identifying those risks early on and devising a plan to eliminate or minimize their impact. While it’s probably not healthy to think about all that could go wrong, asking “What if?” when it comes to every aspect of your business is key to its...

By Susan Caminiti. When Micron Technology CEO Steve Appleton, 51, died in a plane crash on Feb. 3, the company not only lost its long-time leader, it experienced a stock price drop amid concerns about who would take the helm at the memory chip maker. The company’s board of directors swiftly announced that COO D. Mark Durcan would replace Appleton. But what if—as is so often the case with small businesses—there isn’t another qualified person waiting in the wings should tragedy strike at...

Preparing for the worst will keep you functioning at your best By Max Berry Every entrepreneur goes into business hoping for the best, but this doesn't mean you shouldn't be prepared for the worst. Whatever business you're in, there will always be a number of things that, at any given point, could go wrong. Developing a contingency plan-or several of them-will help you survive the bad times in minimum time and at minimum cost. It will also make your business stronger as you get back on...