If you have a Business Plan and a Performance Management 'dashboard' in place, you are well-placed to implement your Business Plan but how are you coping with risk? Planning, performance and risk management are linked like the 3 legs of a stool: if you manage risks effectively, you increase the likelihood of performing well against your plan and achieving your goals.
Risks are future uncertain events that matter to your business and can come from many sources; for example, if you are running events outdoors in the UK, the vagaries of UK weather are likely to be relevant; if you are trading on-line, the reliability of your internet connection and the threat of cyber attacks are likely to be relevant; and if you are creating original work, the threat to your intellectual property is likely to be relevant.
Some questions to ask yourself are:
- Where is the value in my business?
- What is my attitude to risk?
This will guide you as to what you need to protect and what risk management strategy you choose.
We can help! We have the knowledge and skills to help you to identify and assess risks, and to choose appropriate risk management strategies for your business. This will give you confidence to grow your business and help to protect you against the downside.
For a free, no obligation initial discussion on how to grow your business with confidence, contact us now on 020 8242 6271.