A RiskScan will help help a business owner sleep at night by identifying and addressing those worries.​

RiskScan: Business owners often spend too many hours each day thinking about problems and unknown risks related to their businesses. They may have started their business because they were very good at what they do, but are inexperienced in many aspects of running a business. Most are not MBAs or financial experts. They may not understand the key points of hiring and managing employees. They may not be technology and cyber security experts. In some cases, they don't know what they don't know, so many unproductive risks are unintentionally taken. Because of these islands of risk, profits are at risk, and a company may fail. Consultants often charge thousands of dollars to help small business owners identify business risks, and even more to find and implement solutions.

The RiskScan application is a self-help option for addressing potentially damaging business risks.  A RiskScan allows a business owner to identify and focus on de-risking situations.  This cloud-based application allows the user to rate potential risk situations, and then generates a report showing the results of the analysis.  In many cases the owner may have never considered these these types of issues until using RiskScan.   The resulting report is valuable, but the process is even more important in that it requires the owner to focus on the islands of risk. Finally, the software suggests solutions the owner can use to de-risk his or her business. 

RiskScan Results

Islands of risk ...

Business Operations and Strategic Direction Issues

  • IT insecurity and potential for cyber attacks

  • Capitalization or re-capitalization

  • Lack of strategic direction

  • Poor organizational structure

  • Health and benefits cost increases

  • Turnaround initiatives

  • Collections and receivables risks

  • Pending lawsuits

  • Governmental regulatory changes

  • Market and industry changes

  • Disruptive and unstable competitors

  • Vendor and supplier instability

  • Unionization

  • Rapid growth initiatives

  • Charitable giving strategies

Ownership and Shareholder Issues

  • Disruptive shareholders

  • Disinterested shareholders

  • Minority interest shareholders

  • Family member shareholders

  • Retiring or inactive shareholders

  • Shareholders with conflicts of interest

  • Shareholders who are not involved in the business

  • Employee stock ownership plans

  • Stock buybacks and internal buyout  options

  • Sale, merger, acquisition, or business  consolidations

  • No or minimal exit planning for shareholders

  • Leadership and Management Issues

  • Dysfunctional leadership

  • The wrong person in a key leadership role

  • Lack of management and leadership  development

  • No or minimal succession planning

  • Life events – sickness, death, disability, marriage, divorce, birth

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