Your Business Risk Heatmap

[ Blackboard Fridays Ep. 119 ]
by Jacob Aldridge Published

Let me be honest: If you aren't prepared to take the occasional risk in business, then you're not suited to the life of business ownership.

Taking risks - investing time or money into something without certainty of a positive outcome - is the oxygen upon which business growth thrives.

I'm not encouraging you to be Risky, however. Adequate Risk Management ensures that the bets you place position you for most of the upside while being protected from the worst possible outcome.

So how do you do that in a colourful, and non-corporate, manner? Let me introduce you to the Business Risk Heat Map. I think you'll actually enjoy mapping your business's risks into this framework.

(Just don't go looking for one-size-fits-all. There's no Template risk map ... as we learned in Episodes 13 and Episode 14, your Risk Profile and your Business's Risk Profile play a major part in how comfortable you are with the uncertainty business provides.)

Watch this week's episode here.

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Jacob Aldridge
read more by Jacob Aldridge

Over the past 12 years, more than 300 active growth businesses in Australia, the UK, and Asia-Pacific have worked with Jacob in his role as an international business coach, partner and advisor.

As the Head of Advisory at businessDEPOT, Jacob continues to work one-on-one with SME businesses and directors, while also leading the development of our Strategic Advisory services across Workshops, Group Programs, and Online business guidance.

Jacob's alumni clients and those who have attended his presentations describe him as the smart and quirky business guy who makes genuine change happen. He brings business experience that impacts both profit and valuation, plus a unique energy borne from the belief that business is best when it's fun.

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