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Steps to Mitigate your Business Risks

Steps to Mitigate your Business Risks Tripura Multinational Singapore India

Now is the season to assess risks to your business. Ask each one of your leaders, “What are the top 10 risks facing our business today?”

Collate all the responses, remove duplicates and what is left is what you need to mitigate.

There is a saying “A person who defends everything, defends nothing”. Therefore, as a leader it is your responsibility to focus your team. Start plotting all the risks across the Three Circles – Circle of Distraction, Circle of Influence and Circle of Control. While you do this exercise along with your team, observe those leaders who are pushing everything into the circle of distraction. These are the leaders who are not taking accountability for solving your businesses’ current situation. The risks that are under the circle of influence are the ones that you need to solve as team and those under the circle of control are those where you show ownership and accountability to mitigation.

What steps are you taking now to mitigate your business risks everyday?

#RiskMitigation #Growthmindset #Leadershipidentification #ChoosingYourFocus #prioritization

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