Explore How Stepping Outside Their Circle of Competence With Emerging Technologies Like AI, Blockchain, and Drones Has Led Many Entrepreneurs to Failure. These Cautionary Tales Reveal the Importance of Aligning Business Ventures With True Expertise to Build a Foundation for Success.
How to Avoid Failure by Sticking to Your Circle of Competence Read More »
In the Digital Age, Misinformation Can Rapidly Erode Trust, Posing a Significant Challenge for People and Brands to Maintain Credibility. Explore Strategies to Navigate the Complexities of Fast-Spreading Information to Protect Reputational Integrity.
How To Strengthen Fragile Business Trust by Navigating Misinformation Read More »
Let’s Take a Detailed Look at Taking Risks. What Type of Risks You Should Go For? What Risks Should You Avoid? What Mindset Do You Need to Pull the Trigger When You Know the Time Is Right?
Taking Risks – Read This if You’re Scared to Pull the Trigger and Bet on Yourself Read More »
Mindsets And Attributes Are Critical to Success. Here 8 Key Attributes of Movers and Shakers Who Have Built Multi-Billion Dollar Companies
8 Attributes that Nobody Talks About that Make for the Best Entrepreneurs Read More »
A risk matrix is a tool that is used during risk assessment to define the level of risk by considering the probability or likelihood that an event against the severity of the consequence to the business if it were to occur. A risk matrix is a visibility representation of risks to assist a business in decision making and mitigation.
How to Develop a Risk Assessment Matrix For Business Success Read More »
When a crisis occurs, it disproportionately hurts some industries while lifting up other ones. This is why you need to study risk and not try to manage it.
Antifragile – Why You Need to Study Risk and Not Manage It Read More »
It Is Always A Good Idea To Review Your Risk Exposure From Time To Time And Develop A Plan To Deal With Things Before You Are Forced To Deal With Them During A Crisis.
How to Determine Your Business Risk Read More »
What Would Happen If A Disaster Struck Your Business Tomorrow? Would You Know What to Do? If You Had A Small Business Continuity Plan You Would.
How to Develop a Small Business Continuity Plan Read More »
Keeping things secure from criminals or opportunists should be a priority for a small business owner. However, many small business owners fail to implement proper security strategies to protect a small business, since they have the mistaken belief that only larger business with more valuable assets are targeted by criminals.
3 Things You Need to Protect a Small Business Read More »
It Is Always A Good Idea To Review Your Risk Exposure From Time To Time And Develop A Plan To Deal With Things Before You Are Forced To Deal With Them In Real Time During A Crisis. Here Is A List Of Some Operational Business Risks Your Business May Face So You Can Consider Ways That Mitigate The Effects If Things Go Wrong.
How to Determine Your Operational Business Risk Read More »
With the rapidly changing business landscape, companies who are beholden to their shareholders are shifting their risk from the business to the employee.
Income Security: Why Being an Employee is Just too Risky Read More »
Would your business benefit from lower downside risk but less profit potential, or higher profit potential with greater risk if break even is not met? In this post, discover how a businesses fixed and variable costs will shape its risk and reward possibilities.
How to Control Business Risk Read More »
I recently was watching a home movie of a motorcycle trip I took with my two boys where we traveled through seven southwestern states. As we rode through the hinterlands that make up much of this region, I recall being struck with a business epiphany. I shared this epiphany with my sons at a roadside
Why Your Options Are Limiting Your Success Read More »
Don’t look to our government as a model in understanding good vs. bad debt. Every day the media highlights another case of the government’s ignorance in the way money should be used. One side of the aisle says it is a revenue problem and we need to raise taxes on the rich. The other side
Is Bad Debt Destroying Your Business? Read More »
What if one of your best employees was forced to move to a new city or wanted to leave for a better opportunity? Would you do whatever it took to keep them, such as making a job for him or her to work remotely or would you encourage them to leave? I was faced with that
Be Willing to Let Key Employees Go Read More »
Existing businesses make money on day one. A successful franchise will earn the owner income not too long after starting up. However, a start-up, even one that survives, may take months or years to begin to pay the owner a salary for working in the business.
3 Risk Levels to Becoming a Business Owner Read More »
Many clients I speak to are looking for a home run or flagship clients. Their logic is since it takes the effort to sign up a new customer, why not sign up a few large customers vs. many small customers? However, this is a misguided goal of building a healthy business. Ideally, you would like
Too Much of a Good Thing Read More »
Most people I talk to about investments believe in having a diversified portfolio vs. consolidating all their assets in one company as a way to mitigate their risk. However, these same people go all-in on much more risky small business ideas with no partners. Entrepreneurs understand the value of shared risk and reward programs. As
Diversify your Small Business Risk Read More »
Are you risk adverse? Most people work hard for their money. Therefore, when it comes to investing their hard earned money, they tend to play it very safe and conservative. Entrepreneurs know that money doesn’t come from work but from ideas and one’s personal knowledge. They know that even if they lost all their money
Safe vs. Calculated Risk Read More »
In business, many of the most promising and productive individuals have fragile egos. As the owner of a company, you need to be able to recognize and reward behaviors from employees that move the business forward or risk creating a Benedict Arnold in your own ranks.
Recognition Or Doom – Failing To Recognize Outstanding Performance Is A Colossal Mistake Read More »
State lottery games take in about twice as much money if they pay out to the winners in a single lump sum vs. a series of 29 annual payments. Furthermore, the overall odds of winning are not very good: 1 in 259 million for Mega Millions, to quote their website. However, when the jackpot gets
The Lure of Big Money Read More »
Investments made in your own business or in the stock market have investment risks that can be broken down into seven distinct types of risk.
The Seven Types of Macro-Environmental Risk Read More »
3 types of Investment risk. Greater risk = great rewards. Range = Inventory, least risk/reward, thru production equipment, to innovation most risk/reward.
Understanding the Investment Risk Continuum Read More »
