How to Take Control of Your Business Risk

So you’ve decided to launch your own business. That’s great!

That is, until the initial excitement of the new venture wears off, and you find yourself facing all sort of nagging doubts, big and small. How do I know if my business partner is the right fit? How do I handle contracts or accounting—I’m not a legal or numbers person! How do I know how to value my business—and buffer against risk accordingly?

These questions are a natural part of entrepreneurship, regardless of how seasoned a businesswoman you may be. Being a business owner, while rewarding, involves management fundamentals that, while perhaps not being the most glamorous part of business, are essential to your long-term success. On this panel, we will cover these often-overlooked facets of running your own enterprise:

• Exposing the unsaid: How do you know if you picked the right partner?
• How businesses are like an arranged marriage (Optimism vs. Pessimism)
• Five Contractual Issues Entrepreneurs Should Consider (Put things in writing earlier rather than later; Get to know your [potential] co-founder really well; Valuation/risks; Leakage of IP; Set up your contractual vendors; exit valuation)
• Focus on the behind-the-scenes aspects of business formation (e.g. insurance; accounting)

Heidi Lawson is of counsel in the insurance and reinsurance practice at the Boston office of international law firm Cooley LLP. She believes in partnering with clients to find strategic solutions and identify ways to advance their business objectives. Prior to practicing law, Heidi spent nine years in insurance operations and has earned the Chartered Property and Casualty Underwriter (CPCU) designation.

Dawn Miller is CEO of AXA Insurance Company, the commercial business lines segment of global insurance company AXA. Her 25-year career spans risk valuation, management, strategy, and business development, and has had her working in a variety of countries and company environments. As AXA’s head of Women in Entrepreneurship global business segment initiative, she is an advocate for women looking to gain a foothold in business formation.