Lowering Risk In Your Business (Things To Think About)
It’s an important part of business these days
Business is risky.
And we all have to think about how to manage that risk.
And now, more than ever it seems, there’s a lot more risks to juggle.
Not just your business, your customers and the markets but how will geopolitics impact your business.
It’s important to take time to think about risk.
So often businesses get caught up in the day-to-day and don’t think about big things.
But risk matters. The wrong risk can wipe you out.
For many business this will mean thinking about cash flow streams.
How can you get more money coming from more sources?
Also how can you diversify away from your business?
It’s a good idea to reinvest in your business.
But it’s also smart to balance and take some risk off the table by putting money in other channels too.
Most importantly think about risk regularly.
Meet with your advisors regularly and talk about managing the risk in your business.
I go into more details in this video:
https://youtube.com/live/NIrVx4l965A
Shawn
R. Shawn McBride
McBride For Business, LLC
300 N. Ronald Reagan Blvd., Suite 210
Longwood, Florida 32750
(by appointment only)
Get in touch: https://linktr.ee/ourshawnmcbride
NOTE: While legal issues are discussed this is education and is not legal advice. It is not a substitute for the advice of an attorney. Please consult your own attorney on your situation and to get legal advice about your circumstances. Courts are unpredictable and may disagree with the author’s opinions.
Unless expressly stated otherwise statements are the opinions of the author and may or may not come true. Consult your advisors before making or refraining from any actions.
This is a business article by McBride For Business, LLC which is separate from the law firm of The R. Shawn McBride Law Firm, PLLC. McBride For Business, LLC offers business consulting, conference speaking, training and other non-legal services.
This is not financial, legal or investment advice.