When we ignore contrarian thinkers and those who call out injustice, it can alter our ability to make risk intelligent decisions. This article explains the history behind a Devil’s Advocate role, where the phrase comes from (hint: it’s Catholic!), and the benefits of welcoming contrarian points of view.Continue reading “What is a Devil’s Advocate Perspective?”
What is Maslow’s Hierarchy of Needs, and how does it apply to business risks? In this episode, we will discuss why this powerful tool can help you understand the motivations of your employees and customers.
What do lowest-paid employees have to offer, and why should we ask them to help make strategic decisions? This episode starts with an eye-opening (and humbling) discovery. You’ll find out who Foundational are, the #1 question to ask them, why a Fight-Flight-Freeze response is not effective… and which response can add tremendous value to your organization.
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 addition to reviewing hard numbers (quantitative) and experiences (qualitative), the Mixed Method combines them both. This approach offers extremely valuable insights about what could be going wrong in a company.
If you’re looking for practical ways to identify opportunities and threats in your business, don’t just “try harder.” Instead, consider two risk intelligent options: Adapt to a changing market, or Quit and move on to something else.
In this episode, Grace explains why she started this podcast and what you can expect in future episodes. You’ll also learn where to get visual graphics & articles related to each episode, and how to submit a question.
Numbers alone don’t tell the whole story. In addition to Quantity, we also need to look at Quality such as feedback, interviews, case studies, and narrative analysis.
Many of us get stuck in a bad cycle where we try to get results, but we end up feeling powerless to actually get the tasks done.
Let me share what I have learned about helping customers, and why it’s better to define your philosophy, write out policies & procedures, and expect at least a few people to be unhappy no matter what you do.
Do you hate reviewing your business financials? If so, you’re not alone.
In this article, I’ll explain:
- the difference between quantitative and qualitative data,
- where to collect the data,
- an illustration that demonstrates which questions to ask, and
- how to use it to make risk intelligent decisions.
How well did your business do this year?
Answering this question can bring up a lot of emotions, especially if things did not go as expected. You might feel the pressure of setting end-of-year deadlines. Looking back can result in guilt if we didn’t reach our goals, or anxiety about setting new ones.
Many business owners feel a tug-of-war between accomplishing daily duties AND stepping back to see the “30,000-foot view” of their company. But even though it can be really scary, doing a Year In Review is very helpful. That’s why I recommend taking time to look back at what happened using data that is quantitative (numbers) and qualitative (experiences). Once you review the results (good and bad), you reduce the risk of failure by making adjustments to your plans for the next year.
Here are six helpful resources to guide you through the process.