dominos standing on edge close together

The Domino Effect in Life and Business

If you're running a small business, or your family supports a person who does, it's not long before you realise Family Life and Small Business Life are interlinked. What happens in one flows through to the other in some fashion.

Is it any wonder people need to be protected from their small business?

Read in this article

When unseen risks go uncontained

When we're talking with business owners and their families about managing risks, it's not long before we're discussing the concept of a Domino Effect.

This is where one event (often unrelated or unseen) triggers a chain reaction of events that ends up having an impact on something (or someone) far removed from the initial trigger event.

  • It can be a fast overnight shock or a slow and painful unfolding set of circumstances.
  • Either way once started, it's near impossible to stop a Domino Effect.

That's the type of problem we all need to protect ourselves, our families, and our businesses from. Risk planning is all about stopping the domino effect in life and business. Better said, we protect our clients from the financial damage (and devastation) that these chain-reaction realities of life and business can bring.

Life is naturally risky and that's normal. Not to manage those risks is where normal becomes crazy.
According to Wikipedia a domino effect or chain reaction is the cumulative effect produced when one event sets off a chain of similar events. The term is best known as a mechanical effect and is used as an analogy to a falling row of dominoes. It typically refers to a linked sequence of events where the time between successive events is relatively small. It can be used literally (an observed series of actual collisions) or metaphorically (causal linkages within systems such as global finance or politics).

Risks are a natural part of everyday life

Looking after a family and keeping everything flowing is a daily challenge for most people. Keeping track of the risks to that flow is part of that process.  If you run a business you'd probably have some additional risks that most people wouldn't have considered. If you're an adventure sports fan and ski double black diamond ski runs, go mountain bike riding or play competitive football on the weekends, you'd probably have a few more risks to add to your list to manage. Everyone's list of risks is different.

  • So regardless of how average or adventurous you and your pastimes may be, the one common reality for us all is this—we all need to know and manage our own particular risks so we can live a bigger life.

Managing those risks proactively is a key part of protecting and providing for a family and a business – and we'd love to help you out with that.

So where do you start?

stopping the dominos is our job sapience financialThe more you have to risk the more you need to protect what you cannot afford to lose. The bigger your plans for your life, the more you need to understand what’s stacked in your favour and how to avoid those statistical realities we all face.

Sapience is a team who specialise in risk protection and risk reduction for families and businesses. We like to say we're about everything protecting or providing and we recognise that those keys to success often overlap and support each other too.

How do we do it?

Sometimes we use life insurance products, and often we use legal documents and structures in combination, but most often it's about education, insights, and a practical strategy to help our clients and their families (or businesses) reduce or remove their key risks. The end result is they sleep better at night knowing a safety net is now in place, just in case it's needed.

The hard reality is…well, hard

Without that protective insight and a plan in place to protect you, a domino event can wipe you out, fracture your family and destroy the value of your business.

Setting goals for yourself automatically takes you out of the past and changes your future

The good news is, it doesn’t have to be that way if you have Sapience on your side. If you're ready to start a meaningful conversation about managing your particular risks better, you can download our Client Discussion Starter Worksheet below.

author pic drew browneDrew Browne is a specialty Financial Risk Advisor working with Small Business Owners & their Families, Dual Income Professional Couples, and diverse families. He's an award-winning writer, speaker, financial adviser and business strategy mentor. His business Sapience Financial Group is committed to using business solutions for good in the community. In 2015 he was certified as a B Corp., and in 2017 was recognised in the inaugural Australian National Businesses of Tomorrow Awards. Today he advises Small Business Owners and their families, on how to protect themselves, from their businesses.  He writes for successful Small Business Owners and Industry publications. You can read his Modern Small Business Leadership Blog here. You can connect with him on LinkedIn Any information provided is general advice only and we have not considered your personal circumstances. Before making any decision on the basis of this advice you should consider if the advice is appropriate for you based on your particular circumstance.

Get Prepared for Life

Protect your Family (& the Small Business that supports you) from the statical realities of Life, Love and Business we all face.

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