What COVID-19 is teaching entrepreneurs about financial risk  Being an entrepreneur is inherently risky. I honestly don’t think you can be an entrepreneur without being comfortable taking risks. It’s the primary reason EVERYONE isn’t starting a business. What many business owners realize too late, unfortunately,  is that entrepreneurship is also about managing and mitigating that risk as much as possible.  The COVID-19 situation is teaching us all a hard lesson about managing and mitigating risk right now, but I do believe it’s a lesson that will make us more responsible and steady business owners going forward. So for this episode, we discuss:

• Understanding the inherent risk of entrepreneurship
• How many of us are learning the hard way about building a business savings
• Why profitability is your buffer for risk
• How your salary affects the level of risk in your business
• Why you need to better mitigate risk the bigger your business becomes
• Why we think business insurance is mandatory as soon as you can afford it
• Why ignoring your numbers dramatically increases your risk
• How to move forward in a time of uncertainty