Small Business Owner’s De-Risking Checklist
Running a small business comes with risks, but the right strategies can minimize vulnerabilities and set you up for sustainable success. Use this checklist to assess key areas of your business and take action to de-risk your company.
Marketing Risk Checklist
☐ Clearly defined brand messaging and value proposition
☐ Diversified marketing channels (don’t rely solely on one platform)
☐ Regularly updated content & website for relevancy and SEO
☐ Defined customer personas to target the right audience
☐ Tracking ROI on marketing spend to ensure effectiveness
☐ Reputation management plan (monitor and respond to reviews)
☐ Secure access to all social media and marketing accounts
Operations Risk Checklist
☐ Well-documented standard operating procedures (SOPs)
☐ Contingency plans for supply chain disruptions
☐ Data backup and cybersecurity measures in place
☐ Regular technology and software updates for efficiency and security
☐ Established disaster recovery plan for unforeseen events
☐ Evaluated automation opportunities to streamline repetitive tasks
Sales Risk Checklist
☐ Clear sales process from lead generation to closing
☐ Defined customer retention strategy to maximize lifetime value
☐ Tracked conversion rates to identify gaps and opportunities
☐ Diversified revenue streams (not reliant on one client or customer type)
☐ Sales training for staff to ensure consistent performance
☐ CRM system in place to manage leads and track follow-ups
Finance Risk Checklist
☐ Up-to-date financial statements (P&L, cash flow, balance sheet)
☐ Emergency fund or line of credit for unexpected downturns
☐ Process for managing late payments and outstanding receivables
☐ Regularly reviewed pricing strategy to maintain profitability
☐ Clear budgeting and forecasting for future planning
☐ Tax compliance strategy to avoid penalties and surprises
☐ Business insurance policies reviewed and up to date
Legal Risk Checklist
☐ All contracts reviewed and legally sound (clients, vendors, employees)
☐ Clear terms and conditions for services or product sales
☐ Intellectual property (IP) protected (trademarks, copyrights, patents)
☐ Legal compliance with industry-specific regulations
☐ Privacy policies in place for customer and employee data
☐ Updated employee handbook to comply with labor laws
People Risk Checklist
☐ Right people in the right roles with clear job descriptions
☐ Competitive compensation and benefits to retain talent
☐ Regular employee feedback and performance evaluations
☐ Cross-training key employees to reduce dependence on one person
☐ Defined succession plan for leadership transitions
☐ Updated employment agreements with non-compete or confidentiality clauses
Leadership Risk Checklist
☐ Clearly defined vision, mission, and values for the company
☐ Leadership development plan for current and future leaders
☐ Effective decision-making framework for growth and crisis management
☐ Regularly reviewed business strategy to stay competitive
☐ Healthy work-life balance to avoid burnout
☐ Established advisory board, mentor, or consultant for guidance
Take Action & Strengthen Your Business
De-risking your business doesn’t happen overnight, but taking small, consistent steps can prevent costly mistakes and ensure long-term stability and growth.
Where are your biggest risks?
What areas need immediate attention?
Who can help you implement necessary changes?
If you need guidance and accountability, Tiderunner Consulting specializes in helping small business owners identify, prioritize, and execute risk-reduction strategies.
Schedule a business risk assessment today and start securing your company’s future.