Let’s talk about risk … anyone?

Today where uncertainty lurks around every corner, it is somewhat surprising to see the number of companies out there who do not discuss risk on a regular and formal basis.

• Are they scared?

• Do they not know how to start the conversation?

• Is it the “ostrich approach”?

• Or is it the mentality of “it won’t happen to us”?

Either way, if the last 18 months have shown, if you sit still and do nothing, you will go backwards. We have had large corporate entities crash to the ground, SMEs close and “mom and dad” businesses struggle, no one is immune from risk. 

Whether the risk is at a macro or micro level, regular discussions need to happen, to plan, to prepare, to execute, to manage and ultimately, build a flexible business that can respond to anything that the world can throw at us.

Do companies still do SWOT analysis or even PESTLE analysis?

If not, maybe you should start, because if you fail to prepare, you prepare to fail.

Risk is not a taboo subject and if managed, can present opportunity, growth and sustainability.

Here at The Business Growth Hub, we take risk seriously and I am more than happy to get the conversation started.