This workshop offers solutions on how to address risks to minimize negative impact so that, no matter what, your business will continue as a source…
This workshop offers solutions on how to address risks to minimize negative impact so that, no matter what, your business will continue as a source of income, wealth, and pride. Identify, evaluate, and shield against risks such as hiring and training, maintaining customer relations, selecting marketing campaigns, and even insulating against the death of an owner or key employee.
Skills you’ll gain
Business Risk ManagementRisk Exposure ManagementRisk ManagementRisk Management PlanningRisk MitigationRisk PreventionWhat You'll Learn
- Identify, evaluate, and calculate risks facing a small business
- Apply business protection tools such as buy-sell agreements and key person insurance
- Compare various types of disability income insurance and definitions of disability
- Evaluate critical illness insurance, including lump sum versus income options
- Shield against risks like hiring and training, customer relations, and the death of an owner or key employee
- Use risk transfer and insurance to minimize the negative impact of business risks
Key Takeaways
- The workshop offers solutions for addressing risks so a business can continue as a source of income, wealth, and pride.
- Risk can be managed through identification, evaluation, calculation, and transfer.
- Business protection tools covered include buy-sell agreements, key person insurance, and disability income insurance.
- Disability income protection options include supplemental coverage, business overhead expense protection, and business reducing term protection.
- Critical illness insurance is examined in terms of its impact, surviving it, and choosing between lump sum and income payouts.
Frequently Asked Questions
Who is this course for?
It is a workshop aimed at small business owners who want to protect their business and address risks that could threaten it as a source of income, wealth, and pride.
What risks does the course help you address?
It covers risks such as hiring and training, maintaining customer relations, selecting marketing campaigns, and insulating against the death of an owner or key employee.
What types of insurance and protection tools are covered?
The course covers risk transfer and insurance, buy-sell agreements, key person insurance, disability income insurance (including supplemental, business overhead expense, and business reducing term protection), and critical illness insurance.
What skills will I gain from this course?
You will build skills in business risk management, risk exposure management, risk management planning, risk mitigation, and risk prevention.
How does the course approach risk?
It teaches you to identify, evaluate, and calculate risk, and then shield against it using risk transfer and business protection tools.
Transcript
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Protecting your business. Protecting your business presented by Jesse Lipscomb. Folks, before we get started, I just want to introduce myself real quick. My name is Jesse Lipscomb. I'm the host of Financial CPR on San Diego's AM1170K CBQ. I'm a certified estate advisor, and what that means is I've learned how to utilize advanced estate and trust techniques. A quick background on me graduated from West Point 98. I was injured in training in 99 and released in 2000. At that point, actually entered into the automotive industry, quickly became a finance manager, and later on became the business development manager of a large Toyota dealership. I believe that ties greatly into this presentation when we're talking about understanding your business and ways to protect it. Also, as a mortgage wholesaler, furthering my career in the industry of loans, and then ultimately been a life insurance agent since 2001, learning ways to protect my clients both on the individual and a group or business basis.
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