Risk Management: don’t get caught without a backup plan.

Risk management is knowing where you are exposed and having a plan in place for possible disaster. What is your plan?

Legal Risk

Have you ever:

  • Image representing Canadian justice.signed a contract?
  • been involved in family court?
  • received a ticket for a traffic violation?
  • had your driver’s license, medical card or social insurance number compromised?

These are only a few of the risks you are likely to face in a lifetime.

What is worse? Someone using your credit card for purchases; or someone using your medical plan and then you receive life threatening drugs because their history has become yours? When it happens, you need to have a plan in place to mitigate your potential cost. (>>>Click here to learn more.)


Data Risk

Man-CryingDid you know Homeland Security Newswire reported that only 6% of companies survive more than 2 years after a data loss? 43% were out of business immediately. What have you done to protect yourself?

Most business have some kind of backup in place whether tape drives, external drives or thumb drives. Some may even backup to “the cloud” but at what cost?


What happens when:

  • the house or office burns down with all your precious pictures?
  • your computer fails and that’s the only copy of your pictures and documents?
  • someone steals all of your computer equipment?

Setting aside the risks to your data listed above, the average hard drive these days only lasts a couple of years. Make sure you have a good backup plan in place.

Life and Health Risk

This is one area that most people seem most reluctant to address. Buying life insurance means we have to face the fact that we will die. Most of us have someone in our lives that have battled diseases like cancer, heart disease, etc. The rates for disease seems to be increasing with every year. Do you know if you will be one of the lucky ones?

We all like to believe our business has great value. The reality is that many of us are the business. When we die the value is gone. If one of the heirs happens to want to keep and operate the business, will there be funds to create a bridge to new ownership? Are your will and powers of attorney up to date?

Mortgage risk, now there’s a big one. We tend to believe we’re covered when the banks and lenders sell us “Mortgage Insurance”. A friend of mine lost his wife and when he called the bank, he was told that there was no insurance because his wife had a pre-existing medical condition. In a case like that, the bank refunds the premiums paid if you’re lucky, and that’s it. Make sure you understand what you are buying.

Involve your financial advisor/life insurance agent in your life and health risk management review.

What is your risk management plan?


Make it a great day,


P.S. What am I thankful for today? I’m thankful for what I learned as a financial consultant. I’m thankful for alternatives to banks. I’m thankful for all of the great people I met in the financial services industry.

What are you thankful for today?



Backup: What’s Your Risk Management and Disaster Recovery Plan?

Backup! Backup! Backup!

When I was selling computer networks, that was our mantra. Without a good risk management and disaster recovery plan, you may as well fold up your business now.

Backup Because Disaster Happens

  • Hardware Failure
  • Theft
  • Fire and Flood

Every single person I know has lost at least:

  • their family photo albums
  • precious financial documents
  • precious memories and videos..

And did you also know (this is staggering), any company that loses their data for more than 10 days, 96% of them will file for banckruptcy within 6 months!!

Bad things happen to good people. Hard drives fail. Theft happens. When fire happens, your computer might survive the flames but will it survive the water? Be prepared. Make sure you have a good backup solution in place. Keep your data safe and secure where you can get to it when disaster happens.

Backup Options

  • Tape Drive
  • External Hard Drive
  • USB Key
  • Cloud

Tape DriveWhen I was in the computer solutions industry, the backup solution of choice was tape drives. I recommended an 11 tape rotation. One each for Monday thru Thursday (daily), 5 for five potential Fridays in a month (weekly) and 2 for alternate monthly backup. Expensive but in those days, the most comprehensive. We recommended the tapes be stored off site just in case of fire or theft.

Since then, the cost of storage has dropped dramatically. You can use an external drive bay for not much more than one tape used to cost. I would suggest setting up at least two drives to alternate on a daily basis so that you can take one home each day, if you can remember.

USB keyUSB keys are an option but are rather limited in how much you can backup and then you also have to remember to do it. Because of the size, they are easy to lose or have stolen.

And then, there is the cloud. There are multiple companies providing online backup. Let me tell you about a great solution!

GotBackup Cloud Backup

There are many great cloud backup solutions but let me tell you about Gotbackup.

Backup to the cloudIn 2011 only 7% of people used online backup, today 24% are and by 2016, 36% of consumers are expected to be using cloud storage and backup. 14% of home computer users will lose data in the next year due to no fault of their own. This is the very first true consumer product that every person needs who owns a mobile device like an iphone, ipad or android and/ or a home computer or laptop.



Backed up filesWith GotBackup you can:

  • Backup all your photos, music, emails, videos, documents & more!
  • Log in to view all of your files online from any web browser. Browse them just like you would on your PC.
  • Automatically backup your computer silently in the background to the cloud without you having to do anything.
  • Access your cloud on the GotBackup mobile site. We have apps for iPhone, iPad, Android, Chrome OS and Windows 8.

GotBackup does not limit your transfer speeds or bandwidth. Their data centers have super fast connectivity. Your online files are encrypted with military grade encryption to keep them safe in our online cloud.

Are you interested in being paid to have a great backup solution?

>>CLICK HERE to learn more.

Keep your data safe and make it a great day,


P.S. What am I thankful for? I’m thankful for my time in the computer services industry. I’m thankful for business opportunities. I’m thankful you took the time to read this far!

What are you thankful for today?