It’s impossible to eliminate risk from your business. But you CAN have the best of both worlds, with low risk and maximum potential.
Allow me to explain. Let’s start by looking at risk and why you can’t (and shouldn’t) eliminate it from your business.
Think about it: Even if your results are fine right now, and you decide to just carry on with whatever you’re doing, you’re at enormous risk.
You risk losing clients (or customers) to your agile competitors, who continuously seek to improve and target your client base with compelling offers. Sure, small and medium sized business are most vulnerable, but even massive brands can be wiped out by the just carry on attitude. Remember; Blockbuster Video, Toys R Us, My Space, Palm Inc?
So Jim… how do we get the best of both worlds; less risk and massively more potential?
I’m glad you asked.
Mastering the risk / potential balance
In seeking to eliminate risk, you also block yourself from every great opportunity. That’s because every genuine opportunity for your business comes with an element of risk.
So, no risk = no progress.
Therefore, rather than see risk as universally negative, consider the potential pluses as well as the potential minuses. Research the positives as well as the negatives. Take advice before proceeding.
And challenge your beliefs!
Challenging your beliefs is critically important, as one of the biggest barriers to your success are your inaccurate preconceptions about business and marketing. This is a perfect example. And I see equally damaging thinking with business owners all the time.
A well-balanced approach to risk and opportunity is behind every successful business. It reduces your exposure to risk, whilst simultaneously allowing you to fully benefit from the genuine opportunities your business demands, in order to thrive.
There is one caveat.
If your current approach to risk and opportunity is already balanced correctly. If you already have an agile thinking mindset. If you’re already committed to a radically better approach to business in 2020. Then just carry on. You’re going to enjoy another record breaking year.