Have a whiteboard or flipchart ready and nominate a scribe – you can use it as a development opportunity for a less experienced team member.Make it clear that attendance is expected.Schedule in a working lunch with your senior management team (or whole team depending on the size of your business).You can begin to manage risk in your business quite simply by first at least understanding it. How to manage risk in your startup, easily ![]() Demonstrating to such people that you understand risk (and how to manage it) will be considered a sign of significant strength, not weakness. All businesses carry risks and any sophisticated investor (bank, angel, VC or otherwise) knows this.However, should things go wrong, you are not caught with your pants completely down, so to speak. Keeping on top of risks means you can work proactively to avoid the risks materializing in the first place. I am yet to come across one successful, well managed business that does not manage both strategic and execution-related risks well and treat it as a core business discipline.There is just not enough time to think about risk, and anyway, what’s the point in planning for something that might not happen?.Acknowledgement of risk can be considered pessimistic and against the grain of a positive entrepreneurial attitude.This is a good thing because it is very easy to learn and implement. Risk management is absent because people aren’t sure how to approach it, rather than laziness. Risk management as a concept is more often than not simply not known about or understood.Here are a few common themes that I have observed about the consideration of risk in startups and early-stage businesses. ![]() But managing risk within a startup business is important because, as the saying goes, “shit happens”. It’s not a concept that’s on their radar and anyway, there’s just too much other stuff going on. It’s a general perception, but startups and early-stage growth businesses don’t really do risk management.
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