Why everyone should be investing in Business Start-up Insurance policies!
I grew up in a family business doing hard, physical labor from a young age. We worked our asses off and never had anything to show for it. It was always feast or famine as we navigated the seasonal work and mom was always under insane amounts of stress balancing the checkbooks and trying to figure out how we’d stay afloat.
We were constantly in survival mode just winging it.
No money for advisors or coaches. No insurance to fall back on. It was just sheer will and tenacity and 16 hour days in the hot sun and the hope that the next gig was on the way.
I wonder how things would’ve been different if my parents had built even a minimal plan for the business.
- What if we had sat down and identified new offerings we could provide in the off-season?
- What if we had created cash-flow projections?
- What if we had a Vision for the future that we were all focused on together?
How different things would have been if we had taken a little time to identify key differentiators or opportunities? Or if we had a process for managing opportunities with accountability and scheduled follow-ups.
Even little things like ensuring that the tools and equipment we needed were prepped and ready for each job.
What are Business Start-up Insurance policies?
We’re all pretty industrious, tenacious people aren’t we – business owners? We have a certain amount of self-confidence and the ability to get shit done to start and grow a business.
Tenacity and grit are ground into us as we make our first few sprints in our new businesses. But tenacity and grit alone are not going to bring your business to success or ensure survival.
What if I told you there was a Start-up Business Insurance Policy you could buy to fall back on?
Imagine an insurance policy you can invest in right now that will help cover your business from all of the risks you are taking in the event of poor decision making, a cash-flow crunch, a pivot gone wrong or blind spots from winging it? Insurance to protect against bad hires and low accountability cultures would be amazing, right?
You already invest in business insurance to protect against theft, errors & omissions, employment practices, and more. A Start-up Business Insurance Policy would help insulate new businesses from being another statistic like the 80% of businesses that fail within 5 years.
I know what you’re thinking… Insurance policies like that don't exist.
But hear me out: Putting together a living business plan, even a mini-plan is much like having insurance!
What is a Living Business Plan?
Look, I've been a clean-up crew for businesses who were on the verge of failure countless times and I kept seeing the same patterns that are preventable in your business. It was gut-wrenching to see small businesses failing needlessly. And the work that had to be done to get the business back into shape was daunting, long, emotional, and EXPENSIVE.
This is why I developed The 5 Missing Pieces™ and why I’m so passionate about helping small businesses build a strong foundation for growth EARLY in their business journey.
I believe that Small Business Ownership is the most powerful socio-economic equalizer because ANYONE with a passion, purpose, and willingness to work through the 5 Missing Pieces™ can create a fulfilling business that makes a real impact on the world AND elevates the financial situation of owners and the entire team.
But, let’s be real.
Traditional business plans are not useful to most early-stage small businesses and they are extremely laborious and then sit on a shelf and collect dust. Or, businesses wait until they need funding and then rush through the process of throwing one together and then it's useless for any real business road mapping.
Launch Your New Business, Boost Your Existing Business or Skyrocket Your Growth!
We have 3 packages all built around the 5 Missing Pieces™ framework. Each is designed to maximize your profits through one-on-one meetings, hands-on consultation and advice, e-courses and structured planning and measurement tools. We can help you either reach profitability or double your profit within 4 months, or grow your business even further with a dedicated leadership coach (CFO, COO, HR, etc.) helping you every month.