Michael Saltzstein on Business Risk and Innovation

As the business landscape shifts and changes, it can be difficult for business owners to ensure their companies stay afloat. That's why it's important to have strategies to help a business grow and expand while increasing its net worth.

Michael Saltzstein highlights two strategies that business owners should focus on. By implementing these strategies, business owners can rest easy knowing that their companies are on the path to long-term success. With the right mindset and a commitment to growth, any business can increase its net worth and stand the test of time in this competitive world.

On Risk

First, business owners must know how to take chances without risking the company.

It's no secret that those who have achieved great success in business have taken risks that others would have shied away from. Whether investing large sums of money in untested products or taking on new markets without prior experience, entrepreneurs who are in it for the long haul must learn to embrace risk. Not knowing if your decisions will pay off can be a scary prospect, but it's a necessary aspect of owning a company. The most successful entrepreneurs have not only embraced risk-taking, they've thrived on it.

Michael Saltzstein says it's okay to risk money on things that may lead to growth and expansion -- as long as these are calculated risks and not risks borne from whims. It's also important to note that business owners need to consider and plan for most, if not all, the potential outcomes of taking a risk. It should be done whether these results be positive or negative. 

On Innovation

Business owners must learn to innovate, not just for their products and services but also for their business processes.

One of the most common misconceptions about innovation is that it only involves products and services. That is not true. The fact is that innovation can also be applied to business processes. When this is done, it can work wonders for the company. Michael Saltzstein says that innovative business processes have been known to make the many parts of a company far more efficient. Just look at companies such as Microsoft and Apple.

A visionary leader of global risk services, financial structures, multi-line claims, and strategic planning and enterprise initiatives, Michael Saltzstein is successful in delivering multimillion-dollar expense reductions and bottom-line improvement, maximizing coverage, and minimizing cost. For more about his work, visit this page.