Over the years I have seen too many people pay a huge price to become successful in business and achieve financial prosperity. There is no point making money if you have no time to enjoy it, no one to share it with, or no health to appreciate it.
Risk-taking is an integral part of business and life, particularly in small business, but so few people know how to manage it properly. The key is to not eliminate risk, but to reduce risk and plan for the worst-case scenario.
National statistics show that most of these sufferers of the ‘It will never happen to me’ and ‘She’ll be right, mate’ syndromes will experience an insurable event in their lives. More than three in four Australians will be diagnosed with a serious illness in their working life. This is a real problem considering that Australia is one of the most underinsured nations in the developed world.