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Let’s talk about risk. Risks are anything that gets in the way of you achieving your objectives within a company or your business. These risks can be financial, reputation, organization, production, and even talent. Before we address risk, it’s...
Let’s talk about risk. Risks are anything that gets in the way of you achieving your objectives within a company or your business. These risks can be financial, reputation, organization, production, and even talent. Before we address risk, it’s very important that we are clear on our objectives, have a solid plan to reach those objectives, and also understand that the industry or business that we chose comes with its own set of risks.
Assuming that we are clear on our mission, we can then tackle the reality of risks and understand our own risk tolerance to achieve success in our business. There is a multitude of ways to address risks. Today we are going to talk about managing, mitigating, and sometimes avoiding risks altogether. The purpose of this show is to help my business owners and company leaders realize that there will always be risks. The key is to take the proper measures and hire trained professionals to manage, mitigate, and even avoid some risks entirely.
Today's episode will help you understand and align your personal risk tolerance with that of your industry or business. My mission is to help get you unstuck, ease your anxiety, and maximize your results!
𝑇𝑎𝑘𝑒𝑎𝑤𝑎𝑦𝑠 📝
🔑 Risk tolerance is what you are willing to put up with for the sake of the goals that you’re willing to achieve.
🔑 If you’re going to be innovative you must have a level of risk tolerance. You must be willing to move fast and fail fast.
🔑 Complete risk avoidance isn’t a formula for success, but safety risks can be completely avoided by implementing precautions and automation that limits human involvement.
🔑 Risk management helps you deal with risks that are a part of the business that you chose to be in.
ℍ𝕠𝕞𝕖𝕨𝕠𝕣𝕜 📚
Do you have clarity on the objectives within your department or business? Do you know the risks that are associated with your industry? Do you have a process in place to manage and mitigate these risks? If you answered no to these questions, it’s time to get to work. Map out a plan for your business or department and remember, write it down, and make it plain!
𝓯𝓾𝓵𝓵 🎧 𝓪𝓷𝓭 📹 𝓪𝓽 🔗 𝓲𝓷 𝓫𝓲𝓸
Be sure to tune in each week for new episodes!
Learn more about the host here: https://laurelrutledge.com
Let’s connect:
Instagram: @laurel.k.rutledge
Facebook: Laurel K Rutledge
Linkedin: Laurel K. Rutledge MBA, SPHR, SHRM-SCP
Check out The Rutledge Perspective on YouTube: https://www.youtube.com/@therutledgeperspective
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