Business Owners – What about…
Written by Stacey Golden-Lisnock
Financial Advocate
Financial Advocate
This is a big topic and I want you to get through this article with some actionable points. If you stick with it to the end, you will get some nuggets to chew on.
I say that, but what I really mean is if you choose to only read and dismiss, it will be your subconscious that will start the process for you. So let’s get through this, shall we?
When you own or operate a business, it’s important to think about asset protection so you can limit your exposed liability. Liability can come from a wide range of sources. A disgruntled customer or partner may bring an action against you, or a creditor may seek to attach assets to settle a debt.
Without proper protection, you could lose substantial business assets in a lawsuit, and even place personal assets in jeopardy.
There are steps you can take to protect your business, yourself, and your family.
I say that, but what I really mean is if you choose to only read and dismiss, it will be your subconscious that will start the process for you. So let’s get through this, shall we?
When you own or operate a business, it’s important to think about asset protection so you can limit your exposed liability. Liability can come from a wide range of sources. A disgruntled customer or partner may bring an action against you, or a creditor may seek to attach assets to settle a debt.
Without proper protection, you could lose substantial business assets in a lawsuit, and even place personal assets in jeopardy.
There are steps you can take to protect your business, yourself, and your family.
We are all aware of liability. We all know that people can be desperate or deranged and some may want to cause a problem for us, just because they can. Just know there are ways to protect yourself and your business. For this be sure and meet on an annual basis with a commercial insurance agent/broker. If you need a referral, please ask around. I also can offer up some resources that have a track record of excellence in serving businesses like yours. Next…
When you are a business owner there are so many hats you must wear. You may long for the day when you can delegate many of these “hats” but when that day will be, we are never sure. If you are at that point where you are able to delegate some of the responsibilities and tasks, how do you know they are being done correctly?
When you are a business owner there are so many hats you must wear. You may long for the day when you can delegate many of these “hats” but when that day will be, we are never sure. If you are at that point where you are able to delegate some of the responsibilities and tasks, how do you know they are being done correctly?
To slightly change the subject, what would realistically happen to your business if you should become ill or incapacitated or even pass away?
Are there plans in place so that there is minimal upset to the landscape of your business?
Will contracts be honored or will there be refund requests amounting to large sums of money?
Will appointments and meetings be professionally handled or will no communication be the likely outcome?
Are there plans in place so that there is minimal upset to the landscape of your business?
Will contracts be honored or will there be refund requests amounting to large sums of money?
Will appointments and meetings be professionally handled or will no communication be the likely outcome?
If you’ve ever been stood up for a business appointment, do you immediately think, “I hope everything is OK”? And in the back of your mind wonder if you were (actually) stood up or did something awful happen.
While it is one of those things we hope will never happen in OUR business, I am sure you know of others that DID have a health issue, accident, or worse while in the prime of their business with NO backup in sight and you may have witnessed first-hand what the outcome was.
Why then are most business owners living on the edge?
We tend to wait until it is a dire necessity, say a diagnosis that smacks reality into our day, or we put it off so long that others are left to handle the residual mess.
While it is one of those things we hope will never happen in OUR business, I am sure you know of others that DID have a health issue, accident, or worse while in the prime of their business with NO backup in sight and you may have witnessed first-hand what the outcome was.
Why then are most business owners living on the edge?
We tend to wait until it is a dire necessity, say a diagnosis that smacks reality into our day, or we put it off so long that others are left to handle the residual mess.
I like what the late Stephen Covey said, “don’t prioritize what’s on your schedule, but rather schedule your priorities”.
With all you have on your plate this is one more “nice to have” piece of the puzzle that generally keeps getting postponed.
To put it in perspective, it will probably be ok, but what if your number comes up and nothing is ready?
What then?
I’m not here to get you to change your life the way your incapacity or death would change the lives of those who are counting on you, I am simply the messenger with this message to get the seeds planted so that you will come to realize that these important things will one day become urgent and others will not be provided with the tools and plans to keep the ship afloat if you choose to dismiss the warnings and the reality of others before you.
Let’s chew on that and see if change can take place sooner rather than later.
To put it in perspective, it will probably be ok, but what if your number comes up and nothing is ready?
What then?
I’m not here to get you to change your life the way your incapacity or death would change the lives of those who are counting on you, I am simply the messenger with this message to get the seeds planted so that you will come to realize that these important things will one day become urgent and others will not be provided with the tools and plans to keep the ship afloat if you choose to dismiss the warnings and the reality of others before you.
Let’s chew on that and see if change can take place sooner rather than later.
Thank you for taking the time to read this article. It may be the most important thing you did today.
Visit www.GotItTogetherNow.com
cell/text: 714-642-1771
email: gitnow123@gmail.com
cell/text: 714-642-1771
email: gitnow123@gmail.com
Stacey Golden-Lisnock is a Financial Advocate who is dedicated to helping people to leave a stress-free legacy. Prior to creating the Got It Together Now! – Emergency Info File Course, she was a Certified Financial Planner (CFP) for over 30 years. After being ill in 2018, she changed her focus from Financial Advisor to Financial Advocate. She enjoys educating people and motivating them to take action on important topics. She hosts a weekly podcast, Legacy Therapy.
Got It Together Now! – Emergency Info File Course:
Just 7 modules with structure, guidance, and accountability. You’ll get important legal and personal information current and complete once and for all.
Send me a text 714-642-1771 to book your 30-minute consultation (gift) to see where you are in the "being prepared" process.
Got It Together Now! – Emergency Info File Course:
Just 7 modules with structure, guidance, and accountability. You’ll get important legal and personal information current and complete once and for all.
Send me a text 714-642-1771 to book your 30-minute consultation (gift) to see where you are in the "being prepared" process.