Is Your Business and Life Protected and Prepared?
Have you ever thought about what would happen if life threw your business a curveball? It’s not the most exciting part of entrepreneurship, but it’s one of the most important. I sat down with Cheryl Cobbin to discuss how family-focused entrepreneurs can safeguard their businesses and personal lives.
When we set out to build our dreams through entrepreneurship, the focus is often on growth, creativity, and success. Yet, there’s an equally important aspect of running a business that doesn’t get enough attention: protection.
In the latest episode of Life by Design, I sat down with Cheryl Cobbin to discuss the essential, though often overlooked, steps entrepreneurs must take to protect their businesses and personal lives. Cheryl, a seasoned expert in supporting small business owners, offers actionable insights to help you secure the foundation of your business.
The Importance of Proactive Planning
Starting a business is exhilarating, but it’s not without risks. As Cheryl explains, many entrepreneurs find themselves in reactive mode, scrambling to fix problems they never anticipated. Whether it’s a client refusing to pay, a legal dispute over a contract, or even identity theft, these situations can disrupt your progress and peace of mind.
Proactive planning means addressing these potential challenges before they arise. Cheryl emphasizes the value of having access to expert legal advice, identity protection services, and a clear understanding of your business structure. These tools aren’t just for large corporations—they’re essential for solopreneurs and small business owners too.
Common Oversights That Can Cost You
One of the key takeaways from this episode is the importance of understanding contracts. A small oversight—like missing a clause or misinterpreting language—can lead to significant financial loss. Cheryl shares stories of business owners who learned this the hard way and highlights how proper legal support can save you thousands of dollars.
Another critical issue is identity theft. Cheryl warns that cybercriminals often target small businesses, stealing sensitive information or even hijacking social media accounts. The repercussions can be devastating, not just financially but also for your reputation.
Protecting What Matters Most
For many entrepreneurs, the driving force behind their business is the desire for freedom—freedom to spend time with family, to travel, and to live life on their terms. As we pointed out, achieving this freedom requires a solid foundation of protection.
From setting up a trust to ensure your business and personal assets are safeguarded, to having a legal team ready to assist at a moment’s notice, these measures allow you to focus on what matters most without constant worry.
Take Action Today
There’s no better time to evaluate the protection strategies you have in place. Are your contracts airtight? Do you have a plan for handling disputes or identity theft? If not, it’s time to take action.
Cheryl’s advice is simple: Don’t wait for a crisis to hit. The resources you need to protect your business and life are more accessible than you might think. By being proactive, you can prevent costly mistakes and focus on building a legacy that lasts.
Watch the full episode of Life by Design here to dive deeper into these critical topics. Share your thoughts, experiences, and questions in the comments. Let’s continue the conversation about building businesses that are not only successful but also secure.
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