A deep-dive explanation about the main categories of strategic risk (Governance, Operational, Competitive, Financial, Reputational), and the 4-step process you can use to evaluate them.
Although they sound alike, the terms “Entrepreneur” and “Business Owner” are very different. Whether you are an independent practitioner, contractor, or just curious about what these words mean, I want to explain why they are so different.
Listening to problems and potentially negative outcomes is not easy or fun, but it’s an important part of avoiding disaster. In this episode (and full transcript below), you’ll hear why Devil’s Advocates are important, what happens when you create a diverse culture, and more!
An airplane pilot has the responsibility to conduct safety inspections—both before they take off and after they land. Diligent maintenance checks can help to avoid things going wrong: equipment failure, accident, injury, or a catastrophic crash.
Before launching a project or initiative, risk intelligent business owners can identify potential vulnerabilities by conducting a Pre-Flight Check. This evaluation can reveal valuable information that is both quantitative (numbers) and qualitative (experiences and sensations).
This simple tool is a great way to evaluate problems in your organization through an objective lens. Grace will explain how to identify your Strengths, Weaknesses, Opportunities, and Threats, when to use the PESTEL tool, and which steps you can take to get the most out of this tool.
Keep reading for a full transcript of this episode (with bonus images and links!)
Quality is much different than quantity. It includes sensations and feelings from interviews, discussions, and narrative stories that are difficult to turn into specific numbers.
Although it takes more time to collect, qualitative data is extremely helpful because it provides a depth of understanding about very complex problems.
The best way to avoid problems and overcome barriers in a company is simple: Listen to the experiences and opinions of your employees. Although listening to negative feedback can feel challenging to leaders, it is one of the most valuable sources of risk intelligence.
In this episode, Grace explains the three ways for frustrated employees offer their opinions and which 5 steps will help you create Healthy Feedback Loops in your organization.
There are many places to look for signs that something in your company needs to be adjusted.
In this post, I’ll share 20 different places where your business can look to avoid a potential catastrophe. I also explain how to evaluate these sources for vulnerabilities, and which questions to ask.
What’s the difference between quantitative data (numbers) and qualitative data (experiences & emotions)?
Keep reading to find out why these are both essential parts of overcoming barriers as an owner, and examples of where to look for vulnerabilities in your business.
In this episode, Grace explains the differences between 10 popular business models, the four types of organizational vulnerabilities, and which 6 principles of influence can be used (for good or for bad).