How do you prepare for an unpredictable and unforeseeable situation? Black Swan events are very rare, but not unheard of. If such an event is one “that is difficult to predict and unavoidable in retrospect” (Brittanica), then by definition, you cannot prepare for it. While this is true, you can do some things to avoid maximum damage from the event.

Step 1. Stay Informed

The more informed you are the less damage will occur from the event. Having an understanding of concepts that might seem outside the range of possibilities for your life can be helpful as those are the events that you most likely won’t expect. For example, if you live near water, you may not know when the next tsunami may occur, but it CAN happen. To prepare for such an event you could lay out an evacuation plan to get out of the area if one happens, or you could even move away from that area altogether to avoid any possibility of the situation. Either way, both are possible informed preparations to prevent the maximum damage possible to you, your family, and the people you influence.

Step 2. Look at the Precautions Taken by Others in Your Field

Looking at other companies and individuals that have already made rules and prepared for disastrous events from happening. TSA seized 6,542 guns in airports in 2022 (which is not a thing to be happy about). This is the precaution that they have begun taking to avoid shootings in response to the prior events that have occurred in airports. They began doing this so that events such as 9/11 do not occur again, but that doesn’t mean that a gunman doesn’t have a different plan this time. In your preparations, make sure you cover as many bases as possible to be ready for anything. You can do this by implementing policies, rules, and plans.

Step 3. Make Policies, Rules, and Plans

After becoming knowledgeable about what disasters could happen and seeing how others have handled those disasters, you now need to set up your own policies, rules, and plans. These will be individualized in accordance with your life, but will generally revolve around three things: spreading out your resources, not relying on only one thing, and having a plan B. If you are in the stock market, don’t put all of your eggs in one basket and a market crash won’t hurt as bad; if you work near the beach, put hurricane shutters on your building and have safe spaces built. We cannot truly plan for an unknown event, but we can be on our feet and prepared for when it comes.

To Summarize:

• Know as much as you can, so you can be as prepared as you can be. If you think you can be robbed, don’t carry cash; if you think a tornado could hit your home, build a tornado shelter.
• Look to others, seeing what precautions they have taken to prevent disasters.
• Make policies, rules, and plans that cover as much ground as possible specifically to avoid major fallouts, costs, and damage.