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Overview of Risk Management presented to USF Connect at the University of South FloridaTRANSCRIPT
Can You Afford to Miss Your Milestones?Mitigating Risk in Early Stage Companies
Disclaimer
We are not:Insurance Salesmen!!!
What is Income?
Income Defined
• 1. the monetary payment received for goods or services, or from other sources, as rents or investments.
• 2. something that comes in as an addition or increase,
esp. by chance.
• 3. Archaic. a coming in.
Source: Dictionary.com
What is Risk?
Risk Defined
1. exposure to the chance of injury or loss; a hazard or dangerous chance: It's not worth the risk.
Common Types of Income
• Sales• Conventional Loans• Venture Capital• Angel Investment• Government Grants• Royalties
Common Forms of Risk
• Weather, Fire, Flood• Contingent• Contractual• Employment• Executive• Fiduciary• Infringement
Risk Management Techniques
• Avoidance
• Mitigation
• Transfer
• Retention
• Financing
Dealing with Income Risk – Our Philosophy
• Identification
• Mitigation
• Transfer
• Financing
Identification
• Baseline Assessment
• Risk Assessment Report
• Risk Management Action Plan
Mitigation
• Program Evaluation
• Accountability Metrics
• Behavioral Based Curriculum
• Stewardship
Transfer
• Contractual
• Nothing
• Financing
Financing
• Retention
• Deductible
• Self-Insurance
• Insurance
How Does This Apply to Me?
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Contact Us
• David R. Carothers, CIC, CRM – [email protected]
• Lance B. Crawford, GBA - [email protected]
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888-350-7729