What Happened After I Got a Professional Color Consult [Video]

As a business consultant specializing in strategic risk, I discuss all areas where a company can be vulnerable to failing long-term.

One area that I believe affects a lot of business owners—but that we don’t often talk about—is how we present ourselves professionally, which includes the colors we wear.

In this post, I share my story of meeting with a professional color consultant, what I have learned, and why I believe it is a very helpful tool in reducing business risk.

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How to Complete a PESTEL Analysis

The PESTEL tool is used to evaluate various threats and opportunities in 6 key areas: Political, Economic, Social, Technological, Environmental and Legal.

It is typically used as during long-term planning to get a macro (big picture) perspective on issues that could impact the organization. Combined with the SWOT Analysis, this tool can provide incredible insights for risk intelligent decision-making.

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The PESTEL Assessment

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Overview of the 5 Types of Strategic Risk

Strategic planning is a fascinating and complicated process. There is no “correct” way to create a strategic plan; every leadership team has a unique definition of where the company is going or how you’ll get there.

While this wide range of options allows for tremendous latitude and flexibility, a company’s planning process can be TOO easygoing. It’s a bit like having a body with all the bones connected (immobilized) and one that has no bones at all (a bowl of jelly). Both extremes — too rigid or too relaxed — make it easier for threats to creep in and destroy what you’ve worked so hard to create.

Most organizations use a Strategic Plan (though certainly not all, in my experience). And most plans define the company’s Vision, Mission, Values, Objectives, and Measures — which I abbreviate as VMVOM.

But while a plan can look great on paper, most strategic plans do not consider strategic risks.

In this post, I’ll review 5 types of risks specific to the strategic planning process, and which one I believe is the most critical to organizational growth.

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