Some business owners are unsure of how to manage the risks in their business.
What is risk? Why do we have to identify the risks in business? How can we avoid them? Or can we manage them?
Some ‘new’ business owners are lack of discipline. When they see money coming into their business, they spend it. When they see more money in their business, they spend more. That makes their cash flow inconsistent and their business becomes disorganized.
What about those who have been in business for years? Do they know how to manage risks? The answer is yes and no. Some maybe good at Risk Management, some maybe not.
There are variety of risks in businesses, including some that we cannot avoid; e.g. change of regulations, implementation of new taxes, disengaged employees, misused of funds, etc.
To make money in any business, you have to push yourself beyond your comfort zone. You have to be prepared to face challenges and competition. It’s a daily issue!
A dedicated Business Coach will guide you through the ways to manage risks in your business; while ensuring that your business is making money too.
Connect with me now, I’ll show you some simple steps to manage the risks in your business.