Episode 14: Protect Your Life & Health As A Business Owner With Lorena Tomasini
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Today, I had an incredible chat with Lorena Tomasini, co-founder of a mother-daughter team specializing in life and health insurance.
She’s also the host of the 12-Minute Talks Podcast, where she gets straight to the point with valuable info for entrepreneurs.
Trust me, you’re going to love this conversation!
What We Covered:
1. Insurance Without the Overwhelm
Let’s face it—insurance can feel like a headache. Lorena simplified it:
- Group plans aren’t your only option, and the Affordable Care Act makes individual insurance surprisingly accessible.
- "If offering group insurance feels impossible, consider stipends—it’s a practical way to keep employees happy and covered." – Lorena
2. Employee Benefits: Timing Is Everything
When should you start offering benefits?
Lorena explained it’s not about how many employees you have—it’s about your financial readiness.
- "The size of your team doesn’t matter as much as your ability to fit benefits into your budget. Even small businesses can find creative solutions." – Lorena
3. Protecting the Boss (That’s You!)
As a business owner, your health is your business. Lorena shared how critical illness policies and life insurance can protect your income if life throws you a curveball.
- "Insurance is something you buy and hope you never use, but it’s peace of mind that’s worth every penny." – Lorena
- "When I had cancer during the pandemic, I realized just how important it is for business owners to safeguard their financial future." – Amanda
4. Business Partnerships: Plan for the Unexpected
Ever thought about what happens if your business partner can no longer work? Lorena explained how life insurance ensures the business stays afloat.
- "If something happens to your partner, do you want their spouse stepping in and making decisions? Probably not. That’s where life insurance comes in." – Lorena
Amanda’s Takeaways:
Lorena opened my eyes to new ways business owners can protect their teams and themselves without breaking the bank. When I ran my bakery, I wish I’d known about options like stipends or ICHRA plans instead of stressing over expensive group insurance.
And for all you entrepreneurs out there, don’t forget to think about your own health and well-being too! Your business only thrives if you do.
Resources Lorena Loves:
- Focusmate: A virtual coworking tool to help you stay accountable and crush your to-do list.
- Taskade: Perfect for mind mapping, organizing projects, and keeping your team on the same page.
Before You Go:
Are you ready to hit your first or next million?
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Want More Amanda:
Business Planning Mastery: The Ultimate Guide to Real Business Results
Use my simple Strategic Plan template and learn the exact formula that helped me grow my retail business from $389k to over $2.2 million annually.
https://simple-strategic-plan.com/go
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