Today's episode is a little different- We're just doing a recap to make sure everything all in once place! Here we go!

The bottom line is risk management. I know we keep bringing that up but it is really vital to you and how your business operates today. Especially in the state of the world today, Most risk is completely unpredictable and all we can do is prepare for what might happen .

In an earlier episode we were talking about how to transfer some of that risk. Take some of the risk and direct it to your customers. The potential of bad things that could happen allows you to charge premium pricing to your customers. Rolling in the cost to your current rate can help you offset some of your risk and create an internal insurance policy. Well what about the economy? We are giving you permission to go from defensive to offensive. It’s ok to increase your prices, it’s ok to push forward!

One of the other episodes we talked about how to transfer your risk using legal contracts. One of the biggest things we wanted to hit home is that your legal documents are a living breathing document and need to be adjusted as things change. If your service agreement is from 20 years ago when your doors opened it’s time to take another look. Leaving holes in your agreements with customers and vendors can hurt your business tremendously if something does happen.

We also touched  on lowering your  business risk with insurance. We even had a great interview for you all (just go back one episode) with Butch Kreiger from First national insurance. He was able to give us some great insight into the insurance world. Essentially what it boils down to when it comes to insurance is to make sure your assets are covered. Especially with this pandemic going on – make sure you do a double take and look at what your policy says and adjust where it’s needed. Tune in now to hear more about what you can do!