When you started your business, I am willing to bet you didn’t take an insurance class.
What are insurable risks and non-insurable risks?
So, at this point, you have one of two choices, find a way to get educated or find out the hard way.
As small business owners, we tend to learn a lot of on-the-job training. It’s hard to trust those around us with our baby. From employees to customers to vendors there are so many things we have to get “seasoned” at before we can avoid the common pitfalls. If you have made it past some of the initial ones like hiring, training, sales, marketing, and operations you are doing well! If you are successful in these areas, you move to actually making a profit and getting better year after year. How much time do actually spend staying on top of your financials? Have you ever taken the time to see what insurable risks and non-insurable risks you need to be protected from?
I’m going to flip the script a little bit, I am going to share a couple of questions on what Business Advisors should be asking business owners and the common answers they provide. I will use Fortress Business Advisory as an example.
Insurable Risk Conversation #1
Insurable Risk Conversation #2
These are only 2 of the many countless insurable risks and non-insurable risks related questions you will come across as a business owner.
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