Protect Assessment
It is designed to quantify and connect personal to business risk and lay the foundation to protect the owner’s future.
HOW TO USE PROTECT
Prior to Protect
What to do before you run the assessment
Starting Protect
Learn how to run the assessment
Results of Protect
Understand the report from the assessment
THE VALUE OF THE PROTECT ASSESSMENT
Protect Brings Immediate Value to Your Prospects & Clients:
The Protect Assessment immediate gives the advisor and the business owner a report that highlights the areas of risk for the business. It shows areas of opportunity for the owner to ensure that their most valuable asset is securely protected.
What is Protect?
The Protect Assessment is a risk awareness and mitigation tool. It is designed to quantify and connect personal to business risk and lay the foundation to protect a business owner’s future. Financial Advisors can ensure the most valuable assets of their clients are protected, and to identify ‘actionable’ and ‘prioritized’ next steps. Understanding enterprise value is the first step in financial planning for the business owner.
Protect uses this data to examine four areas (Future, Family, Business and Team) and to identify all the risks facing a business owner that could impact the viability of the business, and their current and future financial plans.
Prior to Protect
What to do before you run the assessment
You have completed the Discover Assessment with your client. You have listened to the business owner tell you about their struggles, what motivates them, and where they want to improve. You also have identified some areas of weakness and perhaps the business is at risk. Or maybe there were Value Drivers identified during the Discover Assessment that have helped move the owner in the right direction - Protecting their greatest asset, their business!
Again, we recommend that the advisor runs the Protect Assessment on their own business, either as a practice run or as a demo. Get comfortable with the questions, the process, and the final report.
Note: Discover MUST be completed before beginning Protect.
Starting Protect
What to do when you run the assessment
For the Protect Assessment you will want to block off around half an hour with your client. Just like with the Discover Assessment, it is important that you work with the business owner during this crucial process. While it is possible to have the business owner prepare some of the information in advance, Protect can be completed with little preparation. It is also possible to edit the numbers and items may change.
Results of Protect
How to read the report
The Protect Assessment immediate gives the advisor and the business owner a report that highlights the areas of risk for the business. It shows areas of opportunity for the owner to ensure that their most valuable asset is securely protected.
The Protect Report Video
Plus even more...
...of the benefits of using Protect
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Protect Gathers Data:
One Discover helps one client. Multiple Discovers helps your practice. With each completed Assessment, you are gathering information about the community you serve. Discover data can reveal patterns and trends indicating where your business community is having difficulty. Using this data, you can leverage your expertise and resources relative to the needs you’ve uncovered. Focus your message and community outreach. Let them know you are aware of their difficulties and that you have the resources to help them.
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Protect Creates Opportunities:
Discover highlights opportunities to improve areas of potential risk and makes a client’s company more sustainable and valuable. But it is the process that can be most rewarding. During the Discover Assessment you may find the client lacks knowledge around one of the Value Drivers, or how that Driver relates to their business. Not only does this speak to how they run their business, it also provides an opportunity for you to present your services at the exact time when they realize they need this help.
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Protect Gives You a Reliable Common Framework:
Consider the impact of having all your prospects and clients measured using the same metrics. With little modification to your existing intake process, you can have a standard for how prospect/client businesses are measured, the results of those measurements, and how they compare to each other within the industry and across a host of like-businesses.
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Protect Approaches Your Client Holistically:
When a potential client approaches you with a specific problem, you know from experience that it’s likely systemic. For example: If a client comes to you with a “Hair-on-Fire” emergency, your experience tells you that it’s probably not the only issue. The “fire” started somewhere, and it is probably burning something else. Addressing their specific problem is important to (a) help the client and (b) help you establish rapport with the client. Assess their primary issue and go through Discover. Once you address the client’s emergency, you will be able to return to the report and help them in other areas. You will have better long-term results with your clients because your initial interaction is designed to look at the client holistically. And, the knowledge you gain from doing this will assist when helping other clients facing similar issues.
Go run the Protect Assessment today...
Take your engagements to the next step. Once you have run Discover, you understand what the business is worth. Now it's time to protect the owners largest asset and determine the greatest areas of risk.