5 Ways to Protect Your Milspouse-Owned Business from Murphy’s Law

Cue the chaos: Murphy’s Law has entered the chat.

It affects your best-laid plans, sneaks up on you when you least expect it, and most military spouses have already experienced this “anything that can go wrong, will” phenomenon.

Let’s take Murphy’s Law during deployments, for example. This is when you’re holding down the homefront, and your car breaks down, someone gets hospitalized, your house floods, or your children need stitches. There couldn’t be worse timing of having to deal with these unexpected surprises while your spouse is on another continent. You end up handling it anyway, trying to keep a sense of humor, and filling your spouse in during the next video chat.

Surprises like that remind us how unpredictable things can be. For a milspouse-owned business, proactive planning isn’t just smart—it’s essential.

Murphy’s Law Can Affect Your Business

Hard work is your superpower but even superheroes need a backup plan. Murphy’s Law loves surprises, so here are five ways to keep your milspouse-owned business ready for anything.

• Cloud storage. Don’t utilize just one localized place or device for your documents, client list, financials, collateral, etc. The last thing you need is your phone to get dropped or your laptop calling it quits during a PCS. You can add storage to your phone, use Google Docs, DropBox or the Microsoft 365 package to make sure that you have duplicate copies and are backed up.
• Form an LLC. When you form a Limited Liability Company (LLC), you can enjoy some personal legal protections that separates your assets from the company’s assets, with the benefit of simplified taxes.
• Hire a proofreader. When putting your best foot forward in writing -- for web content, mailers, brochures, signage, and press releases, to name a few -- we recommend having a second set of eyes. This is especially true if you’re working with printed material that can’t be revised without the expense of a second run. Even if one error is caught, you’ll thank yourself.
• Outsource jobs to pros. Some top-of-mind suggestions here would be legal, accounting, or tax professionals. If you’re stressed because you aren’t familiar with these areas, or are concerned about making a mistake that could lead to legal ramifications, consider paying a seasoned professional to handle it correctly for you. This small investment could pay off in the long run.
• Business insurance. Much like you would insure your house, apartment, car, high-value items, and health, you can trust the professionals with Armed Forces Insurance (AFI), to protect your business. From sole proprietors to growing ventures and veteran-owned organizations, flexible coverage options are available to meet your needs. With added benefits like identity theft support, it's more than insurance—it brings peace of mind.

Trust Armed Forces Insurance

Designed with the military in mind, AFI proudly supports what’s important to your military family through personal service and competitive rates. Founded by military leaders who understand the unique challenges that come with military service, AFI has supported military families for over 135 years. AFI offers coverage options designed to bring peace of mind to active, retired, and former military members, their families, and civilian Department of Defense employees. To learn more click here.