You can never completely eliminate risk. It's something you just have to live with.
But risk doesn't have to consume you.
In fact, identifying and addressing risks in your business is one of the main ways to build resilience into it. You can't fix what you can't see and if you don't understand what's most likely to break, it's pretty hard to build that trampoline of resilience right where you need it most.
That's what building resilience in your business REALLY means: you're building systems and structures that can respond to and rebound from whatever you throw at it. Even if it's a risk or a crisis that you never saw coming.
No one, no matter what they tell you, knows what's going to happen next.
We don't know how our society, our government, the economy, or our businesses will change. All we can do is examine the risks and do our damnedest to build something better and stronger—and something built for change.
This month, I’m talking about risks, resilience, and the relationship between the two. To kick it off, I’m chatting with Jacquette Timmons. Jacquette is a financial behaviorist, speaker and author of Financial Intimacy: How to Create a Healthy Relationship with Your Money and Your Mate, and the host of the More Than Money podcast. Jacquette focuses mostly on the personal side of finance although many of her clients are entrepreneurs.
Listen to the full episode to hear:
- How assessing your risk is actually a move towards building resilience
- What the relationship between risk, uncertainty, safety, and resilience is
- Why your personal risk versus taking risks in business are different—and how they can influence each other