Black Enterprise
April 11, 2005

When it comes to running a small business, there are two distinct schools of thought, clearly delineated by generation, on how business risk should be managed. Bulletproof Your Business author Brad Forsythe has found that as more younger workers are willing to take risks to enter the world of entrepreneurship and aggressively grow their businesses, their successful baby boomer counterparts are working to manage risk in order to hang on to what they have.

Forsythe says that the amount of risk a small-business owner or entrepreneur is willing to take is directly related to the person's age and his or her length of service to a given organization. "Young entrepreneurs are more apt to take risks to grow their business, while older business owners are more interested in keeping their slice of the pie to pass along or to sell for the maximum profit, " says Forsythe.

The Las Vegas Tribune
January 7, 2005

Making New Year's resolutions may not be original, but for the small-business owner, this is a good time of year to refocus goals. Start with these:

- Take time to stop and think. If you do, you may more clearly see remedies to problems, and dream up ideas and ways to improve your business. Giving yourself some time to step back doesn't come easily to business owners, says Brad Forsythe, author of "Bulletproof Your Business: Cutting Risk for Small Business Owners and Managers" and founder of Best Practice Advisors, which teaches risk management for companies with 500 or fewer employees.

Risk Management for Midsize and Small Companies – It’s Our Only Business
Your company makes money only when your best resources are focused on innovation and improving customer relationships. But this critical focus can be terribly hard to maintain. When risk turns into trouble, it distracts your focus and forces you into the costly game of playing defense. Risk is controlling you. You can only lose until you retake the offense. Take control of risk – it’s easier than you expect.

The CPAs New Realm - Risk Management for Small BusinessesOSCPA Logo
Managing risks is now an operational cornerstone of the Fortune 500. But risk management remains one of the least understood and least practiced professional disciplines in the world of small business (companies with less than 2,000 employees). CPAs are failing to lead in the practice of risk management. Why? The answer is painfully simple.
[Read More]

Thank You
“Thank you for the thorough and enlightening risk review you did for our organization. What have I gained? Business confidence. I can’t even begin to imagine the bottom line savings.”
Robert Migliara, President, Market Intelligence Group


High praise from The Ohio Society of CPAs
The Ohio Society of CPAs recently engaged Brad Forsythe to teach risk management to its members in the form of Continuing Professional Education. The class is a full day (8 CPE credits) and targets CPAs who are employed in industry. The initial classes primarily attracted CFO and high-level executives.

The class focuses first on strategy – how risk affects companies and how companies can safely take the smart risks that are essential to their prosperity. The class moves on to tactics and ends with instruction on using many of the tools that are part of Forsythe’s PreAct™ risk management process.

Here are actual evaluation scores from recent class members (maximum allowable score is “5”):

Brad’s knowledge of the subject matter: 5.0
Brad’s presentation skills: 4.9
Brad’s organization of the discussion and use of time: 4.9
Brad’s textbook and readings used in this course: 5.0

Comments from another recent OSCPA event for the same course:
“ Discussion of the topics was extremely thorough and well thought out. Instructor’s knowledge of subject matter is very good and his presentation style is most professional.”
“ Mr. Forsythe did a great job.”
“ Excellent course and instructor was very good.”
“ Super material very organized and kept it interesting.”

Don’t Confuse Risk Management with Insurance!
Best Practice Advisors does not sell insurance.
Business leaders must understand that a vast percentage of risks – often their most grave threats - are not insurable. Their only protection from these threats is “real” risk management. But confusion reigns when most company leaders hear the words “Risk Management” – they automatically and mistakenly expect an insurance sales pitch. Their confusion is understandable because of historic insurance industry marketing practices.

Insurance is price you pay for to cover some of your risks (those that can be insured). Buy smart! First use risk management to prevent or reduce your insurable risks – then seek insurance quotes. Your insurance will cost less!

But real risk management delivers much greater benefits than simple threat reduction and lower insurance costs. Click the “About Risk Management” near the top left side of this page to learn the powerful financial boost companies gain from this practice. Does a 100% boost in Return On Assets grab your interest?


Brad Forsythe, small business risk management expert and author of ‘Bulletproof Your Business,’ has been published in one of the most prestigious risk management publications in the world – The John Liner Review. His white paper, aptly titled “Risk Management for Small Businesses” is published and available in the current issue of The John Liner Review, the Quarterly Review for Advanced Risk Management Strategies. The editorial board, responsible for reviewing and ultimately selecting the papers that are published, includes risk management experts from leading academia and top businesses.
 
The John Liner Review is a quarterly journal written for insurance agents, brokers, and risk managers all over the world. The journal publishes articles on commercial property and casualties, risk management, insurance, and product liabilities and recalls. The John Liner Review is available online at www.standardpublishingcorp.com.Click here to read an excerpt of the white paper: “Risk Management for Small Businesses.”

Simple Risk Management Saves the Small Business Dream


New business and firm ventures tread perilous ground given today’s startup culture.


To manage your startup risk, put a plan in place to deal with any rough waters up ahead.


How to Overcome Gender Bias: It's About Character


Tips for "Bulletproofing Your Business"


Forsythe Book Called a "Must Read" by International Book Review Oraganization



Listen now to Brad on the WAHM show with Cheryl Demas on World Talk Radio




Overcoming racial bias in business lending



Bulletproofing 101:You can't eliminate risks, but you can reduce them. Here are a few preliminary pointers on the best way to approach that goal.

 

Media Archive»

 
“Brad has written a truly amazing resource book that allows small businesses to mitigate their risks when dealing with clients, suppliers and employees, and provides practical tools that address these issues before they become big problems.”

-CBS Marketwatch

Click here to preview the book!

Latest Article: It’s About Character. Overcoming racial bias in commercial lending and investment.
By Brad Forsythe, Author
Bulletproof Your Business

“What makes an entrepreneur?” is a recent study from Dartmouth College and the London School of Economics. The study concludes that having access to capital is the most critical factor in creating an entrepreneur. The ability to access capital is vastly more important than other components researched in the study, even more important than entrepreneurial psychology. So much for the theory that entrepreneurs are born instead of made. [Read More]

Entrepreneur Magazine:
Got You Covered

November, 2007

If it has moving parts or electronic components, it can break. And if it breaks unexpectedly, you can bet that it wont happen at a convenient time - and that it will cost you.

Protecting your company from equipment breakdowns requires prevention tactics, alternative resources and insurance. Maintenance is key to preventing breakdowns, says Chris Murphy, 43, President of Murphy Lighting Systems, a lighting control systems integrator with offices in Orlando, Florida, and Chatsworth, California. “Almost everything you buy has a recommended maintenance schedule,” says Murphy. “Complying with that schedule will help extend the life of your equipment and keep your warranty protection in force.”
[Read More]

NFIB
November 11, 2004

Put yourself in the shoes of the small-business owners in this story. What would happen if you were unexpectedly gone from your business for an extended period of time? If you’ve made the right strategic choices, your business could fare better than you expect, says Brad Forsythe, risk management consultant and author of Bulletproof Your Business. Below are Forsythe’s top tips for minimizing potential risks...
[Read More]

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