DISASTER PREPARATION
Karl Dakin
Capital Coach | Stakeholder Investor Campaigns | Design, Stage, and Manage or Support | Reduce Time, Money, and Risk of Raising Funding | Increase Probability of Success! | Opportunity Management
CONTENTS
?·?????? Quick Calendar
·?????? Funding Points
·?????? Successful Funding
·?????? Don Cohen Show
·?????? Opportunities
·?????? Subscribe – Daily or Weekly Editions
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?QUICK CALENDAR
?I quickly list here upcoming opportunities where I will be sharing information, lessons in funding, or meeting in person or via videoconferencing.
?May 29 – Don Cohen Show – 9 a.m. MDT – LinkedIn Live
?May 31 (change of date from Tuesday to Friday) – Successful Funding - Back Office – Justin Lowell
?June 4 – Successful Funding – Leadership – Kon Apostolopoulos
?June 12 - SuperCrowd Chicago – Workshop on Crafting Crowdfunding Offers
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?FUNDING POINT – DISASTER PREPARATION
?When an investor places their money with a small business, the leadership of the small business has a legal responsibility to manage that money responsibly. This includes anticipation and preparation for disasters. Although the risk may be statistically low, when disaster strikes good preparation will result in the business to pick up the pieces and start over.
Over the last several weeks, severe weather has taken lives and destroyed property across the United States. In many instances businesses suffered harm ranging from an interruption in business to their facilities scraped to the ground or covered in water.
?Natural disasters are a risk that everyone accepts. There are standard practices to avoid or limit the harm. The common approach is to buy insurance. Standard insurance policies do not cover everything. It may be necessary to purchase rider’s that extend coverage to a specific threat to the business.
?A small business should first conduct a threat analysis to determine what might hurt or kill the business. Information on these threats may be available through a knowledgeable insurance agent, through an industry or professional association, or through the collective wisdom of a board of advisors.
?Keep in mind that there are a number of threats that are new or growing: computer data hacking, personal privacy, and new government regulations. Give some thought to how these may impact the business.
?If you are unclear on whether a specific threat is covered because the language of the policy is beyond comprehension, you may ask the agent for a letter from the insurance underwriter that states the threat is covered. The agent does not have the authority to make such a statement. You may also ask the state insurance commissioner who regulates the insurance underwriter for assistance.
?It is possible that the dollar limit on what the insurance company will pay is lower than the possible dollar amount of the threat. In this situation, you can purchase ‘umbrella’ insurance which covers any claims that exceed the basis insurance policy.
?Recently, more businesses are finding that there is no insurance available due to wildfires or hurricanes. Standard underwriters have decided not to provide insurance for these threats. It may still be possible to obtain insurance through a specialty insurance company, an industry association or a government program, but more work will be required to find insurance coverage.
?If no insurance coverage is available, then it is possible to self-insure. This will require putting aside an amount of money periodically to build a cash reserve that may be drawn upon if a disaster occurs.
?Many small businesses are finding insurance rates substantially higher, outpacing the rates of inflation. This places the small business in a position where it may appear the best path is to buy less insurance. However, this may fail the level of responsibility owed to investors. The board should approve any decision to purchase less insurance for directors or managers. Better yet, the decision may be made by the investors for their input.
?Where insurance may not be available to cover everything, a small business should carry enough insurance to pay back all creditors and all investors.
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SUCCESSFUL FUNDING
Friday, May 31st (not the usual Tuesday date), the next show for Successful Funding will feature as my guest Justin Lowell with Form Factor. We will discuss getting the back office of a small business in order to support a capital campaign.
?You may register to attend this show at:
?You can see all of my shows at the time of broadcast or recordings of past shows at my profile on LinkedIn.
?DON COHEN SHOW
On Wednesday, May 29, I will be a guest on Don Cohen’s show. You may register to see the show at:
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I enjoy being a guest and engaging in conversations with other guests and with Don on building communities and using LinkedIn as a communication channel. Every show is its own adventure as we start with a word of the day and then see where the conversation goes from there.
Don is an expert on LinkedIn, particularly on the use of Live streaming to build brands and communities. We will discuss using LinkedIn as a social media platform for building communities that support raising funding.
All shows where I have been a guest can be viewed on Don Cohen's LinkedIn page under Posts.
?OPPORTUNITIES
Community Revitalization Funds
I am teaming with a number of experts in community engagement, organization and funding to develop a model for a community investment fund that can provide capital to a set of local projects that can collectively and interactively generate sufficient economic activity to serve as a foundation for a community’s future growth.
We are seeking seed funding in the form of a short-term loan that will be repaid out of a Reg CF crowdfunding campaign. Anyone interested in learning more and discussing a demonstration, please contact:
Karl Dakin at kdakin@dakincapital.com
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AeroCine
With avian flu in the news and a growing number of cases of diseases and pathogens transmitted by air, I am advocating the use of cold plasma as a safe and effective way to continuously disinfect the air and surfaces within any kind of building.
I can provide Pathogen Focus disinfection equipment and conduct a small-scale clinical demonstration on-site in the field. Anyone interested in learning more and discussing a demonstration, please contact:
Karl Dakin at kdakin@dakincapital.com
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The Ultimate Dinosaur Park
I will be in Texas this week visiting different site candidates for a theme park that will feature full size, highly realistic, animatronic dinosaurs. The theme park would be positioned with advanced robotics, workforce training and economic development.
I am exploring possible relationships with developers, hospitality operators and other attractions.
Anyone interested in learning more and discussing a demonstration, please contact:
Karl Dakin at kdakin@dakincapital.com
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Karl Dakin, the Capital Coach
Dakin Capital LLC
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Capital Coach | Stakeholder Investor Campaigns | Design, Stage, and Manage or Support | Reduce Time, Money, and Risk of Raising Funding | Increase Probability of Success! | Opportunity Management
9 个月Are you prepared to protect your investors in a disaster?