Holicent
VIP Contributor
When you're under pressure, you have to make decisions quickly and efficiently. If you're the manager of a small business, this means that you need to manage risk. Risk management is about understanding and managing the risks your company faces. When you start a new business or grow an existing one, it's important to understand what risks exist and how to manage them effectively.
You can't control every risk that occurs in your business. But if you understand how they work, how they affect your company's bottom line, and how they could be hedged against with insurance or other resources, then you can make better decisions about how much risk is acceptable and how to reduce it.
The key to managing risk under pressure is to understand your own strengths and weaknesses. Ask yourself: What am I good at? What do I enjoy? What am I bad at? How can I improve on those? If you're asking these questions, chances are that the answer will be something you already know. If not, then you're in good company. The problem is that most people don't ask themselves these questions because they don't think of themselves as vulnerable or in danger when they're in a job that requires them to work under pressure. The key is to think about how you can improve your weaknesses and develop new strengths. You may have a natural ability for something but it doesn't mean you should stop there; it's better to take the time and effort needed to develop this skill further.
You can't control every risk that occurs in your business. But if you understand how they work, how they affect your company's bottom line, and how they could be hedged against with insurance or other resources, then you can make better decisions about how much risk is acceptable and how to reduce it.
The key to managing risk under pressure is to understand your own strengths and weaknesses. Ask yourself: What am I good at? What do I enjoy? What am I bad at? How can I improve on those? If you're asking these questions, chances are that the answer will be something you already know. If not, then you're in good company. The problem is that most people don't ask themselves these questions because they don't think of themselves as vulnerable or in danger when they're in a job that requires them to work under pressure. The key is to think about how you can improve your weaknesses and develop new strengths. You may have a natural ability for something but it doesn't mean you should stop there; it's better to take the time and effort needed to develop this skill further.
