How to Cover Your Assets and Protect Your Business

5 Important Tips to Protect Your Business from the Unthinkable – learn to cover your assets

Have you ever thought about WHAT IF…
• My Facebook page disappeared
• My Etsy account was shut down
• My Pinterest account all of a sudden was gone
• My Instagram account went on the blink

Here are five things you can do to protect your Assets (your business).

I call this your CYA, Cover Your Ass-sets

If you don’t do these things you are at the mercy of “WHAT IF”

Social media platforms are a great place to showcase your products and services, but you don’t own them.
You don’t have control over Etsy, Amazon, Facebook, Pinterest, or Instagram. You are basically playing in their space. It’s their playground, and if you don’t play by their rules, they can shut you down without notice. I see it happen all the time.

So, what can you do to protect your assets?

Here are five tips and resources that will help protect and ensure the safety of your business.
You can’t afford to ignore this. Your business depends on it.

#1: Two Factor Authorization

Set up a Two Factor Authorization on all your social media platforms
I have a love-hate relationship with social media. I love that I can build a following on social media and reach customers that I might not have otherwise met. I love that I can showcase my products and services on my business page. But, most of the time, I feel like I’m walking on eggshells, and if I make one mistake, they can put me in time out or even shut me down.

Here’s one way you can protect yourself in the event you get locked out. You need to set up a Two Factor Authorization. This way, you can have someone else get into your account. Here’s how to set up two-factor authorization on all your platforms.

Add an Admin to your page

This way, you will always have access to your page. Make sure it’s someone you trust. Here’s how to add an Admin.

Run ads on your business Facebook page

You don’t have to spend a lot of money, even if you only spend $1 or $2 a day on an Ad. This will give you access to a person at the FB office. Use this money to promote your page and watch it grow at the same time.

#2: Etsy

Don’t just rely on your Etsy account
Listen, you don’t own Etsy. They own you.
I’m not against selling on other platforms; I just don’t want you to put all your eggs in one basket.
What would you do if they shut you down? You don’t think it won’t happen to you. Think again. This happens all the time.

I just heard a story of a business that was shut down because she didn’t ship the items on time. This was her main source of income. Can you imagine setting up a business on Etsy and losing it overnight?
It’s ok to have an Etsy account, but you should have your own website to sell your products and services as well. Take control of your business.

#3 Don’t rely on just one social media platform

Have a backup plan
You need to be on more than one social media platform. Pick 2-3 platforms to promote your business. If Facebook were to shut you down, you need another outlet like Pinterest or Instagram to reach your customers.
So, pick Facebook and 1-2 other platforms that work for your business.
I get more people visiting my website from Pinterest than any other social media platform. When people visit my Pinterest pins, I direct them to my website. Do you see now what I’m doing? I use the other platforms to send them to the one place I own, MY WEBSITE.

#4 Build your email list

This is the only way you will be able to contact your customers if something were to go wonky on your social media platforms. Send newsletters, blogs, and promotions on a regular basis. If you don’t want to do a weekly blog, send something at least twice a month. Need some help building an email list? Get the scoop here.

#5 Build your own website

This is the only thing you have 100% control over. Everything you are doing on Etsy, you can do on your website. Find a web developer that can build you a site that has a shopping cart.

If you already have a website, you can hire a VA (Virtual assistant) to set up your shop page and add a shopping cart, and just use PayPal for your checkout. Easy Peasy!

A few things to consider when you build a website

Make sure you have full control of your site and not just your web developer
Buy your own URL (domain name)
Make up your own password
Buy your own theme (don’t let the developer pay for it)
Make sure you have 100% control of your website just in case you decide to use someone else.

This is why I’m adamant about owning your own website. Owning your website is your real estate. It’s the only thing you have complete control over.

I hope this was helpful. Learning to cover your assets is simple and necessary – if you have questions, don’t hesitate to contact me.

Do you have a hobby that you would like to turn into a legit business and start making money doing what you love!
Join Empowering Women. This is where I teach you all the strategies, tools, and tips you need to build and monetize a creative business.

I also have a weekly blog with free business tips and DIY projects you’re going to love.
If you want to learn how to start making money with your hobby get the details HERE.

Blessings
Cheryl