I’ve been thinking a lot about risk lately and how easy it is for companies to adopt a culture of avoiding it. Avoid risk and you can avoid failure, but if you only fight risk rather than embracing and managing it, your business will never be able to succeed in the long run.
You’ve probably heard the saying that failure isn’t defeat, it’s a learning process. I agree, but there’s still a lot you can do to manage risk and avoid failure in the first place. That’s a learning process in and of itself.
Assessing Risk
Before you can manage risk with growth opportunities, you first must be successful in assessing it. Risk assessment allows you to make informed decisions about whether you should even pursue an opportunity or take another route.
Risk is how much…
