Managing the risk
Managing risk needs to be an A to Z process with respect to your business, profession and personal life. The world can be unkind and unfair but the well prepared can spend their time looking forward for opportunity and enrichment instead of looking back at pieces that never came together.
Elements of good risk management include:
- Education
- Observation and awareness
- Preparation, planning & practice
- Experience
- Thoughtful decisions
- A willingness to ask for help
- The right professional advisors
- Effective communication
It is so important to be well educated within your vocation whether you work with your muscle, your mind or both. Being well versed brings a confidence that is the foundation of success and planning. Be ‘very‘ aware of your core skill set and the value that you bring to customer, clients and the beneficiaries of your products/services. Know where you can bring value and where you cannot as most problems result within the realm of “where you cannot... but tried.” Make sure you observe and understand the expectations of those that you serve; exceeding expectations builds a great business, missing the mark makes for a great claim. Use your experience as a tool to build systems and processes that enhance your ability to communicate effectively, in a timely manner and beyond expectations. Make thoughtful decisions by enlisting the assistance of others - many minds certainly have more knowledge, experience and energy than a single mind. Professional advisors and others closer to the action can make decisions go from good to great; use them well.
For a more complete discussion of “Managing Risk” contact me at [email protected] or by cell at 908.507.7126. The full discussion includes elements beyond insurance such as establishing an entity that limits liability; the use of contracts given and received; core values, core services and creating a complete solution.