Risk Assessment - Davis Wealth Advisors

Are you ready to jump on your next big business opportunity? To pursue your next big idea? Is your family ready with you? Answer a few questions to see where you’re scoring well—and where you might need a little more financial planning and preparation.

Business Risk Readiness

I won’t pursue a business risk without having a financial cushion to support my family’s financial needs for a year or more.*

I have enough working capital on hand to fund my business for at least six months before I would have to look for outside capital.*

Because I take risk in my business, I do not take significant risk in other areas of my life.*

When I develop aggressive business goals, I always create a plan for what actions and funding are needed to achieve them and have a process for monitoring our progress.*

Before I move forward with a new idea, I make a list of the things that could go wrong and create a plan for how I could solve those challenges.*

As my business has become more successful, my family has not upsized our lifestyle—we prefer more financial freedom and the ability take more risks that might have a big payoff.*

Family Risk Readiness

Having a family has helped me to clarify what business risks are worth taking.*

Our family has a clear, long-term vision for our wealth.*

Our family has a shared values statement or has discussed our values.*

If I try and fail at something, I know I will still have the support of my family. There are lessons to learn in both success and failure.*

My family understands and agrees that to do something really amazing, we might have to make sacrifices.*

I would rather use my financial resources to teach my children lessons that will make them successful earners in the future, rather than leave them a pot of money.*

Overall Risk Mindset

My desire as a business owner is to leave a financial legacy through my philanthropic work in my community, as well as resources for generations of family members.*

I desire to show my family that having a strong work ethic, a passion for what you do, and taking calculated risks can create financial freedom. You just have to plan carefully.*

I am willing to make sacrifices now—both financially and with my time—to see my ideas through.*

I would rather create a $30M business that I can sell in 10 years than build a business I enjoy and can comfortably support my family for the foreseeable future.*

I am always clear on my WHY before I start a new venture.*

I believe to have huge success you must take large risks.*

I do not just trust that things will work out—I always have a plan.*

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The Financial Risk Readiness Calculator

Business Risk Readiness

Family Risk Readiness

Overall Risk Mindset

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