If You Own A Business, You Also Own An Insurance Company

The concept of risk in small businesses has been, at times, thrown around too loosely, taking on a watered-down reputation. Of course, the entrepreneurial spirit is very much centered on bravery and creativity in the face of risk. Yet, as businesses grow and get more complex, the underlying risks evolve and increase. As one business owner said to me recently, “At our size now, mistakes just hurt more.”

What is critical to understand in this growth journey is the nature of the risks facing your business and how well you are mitigating the impact of those risks. One way or another, you are insuring against those risks. The question you need to frequently ask is: How well are you insuring what is in front of you?