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Women Consultants Shouldn’t Be Afraid To Approach Risk Planning Head-On

This was originally posted on my Seven Figure Consultant LinkedIn Newsletter. Subscribe today to get insights about how women are building powerful and impactful consulting businesses.

Can I share an uncomfortable truth?

Most businesses weren’t ready for this crisis.

Many weren’t ready for ANY crisis.

Because their business plan was made with some huge assumptions in place that they just weren’t aware were assumptions until now.

Market stability.

The ability to meet with clients face to face.

Dependence on footfall at conferences.

Face-to-face events from workshops through to keynote events.

These assumptions generated RISK.

It is one of those areas we often tend to associate with tedious paperwork or ridiculous scenario planning for events that clearly will most likely never take place.

Something we did under duress during our corporate careers, and are happy to leave behind now we’re the boss.

But here’s a truth I need to make you aware of.

Having a strong understanding of risk, and the specific risks that apply to your business and most importantly – how you plan to mitigate them, is a key way that you can take the first steps towards recession-proofing your business.

I’m not saying that we are always able to stop anything bad happening in the business.

But by getting out in front of some of the most likely negative scenarios, we can actually make a series of plans that lessens the impact on the business.

And that’s what makes risk management something which ISN’T boring or hypothetical. It’s really all about reading the road ahead and making sure that you can stay viable in a range of different scenarios.

It can make the difference between staying on course and going out of business overnight.

Businesses face threats all the time and we don’t always see them coming.

Some things CAN’T be anticipated, but a huge amount more CAN and SHOULD be identified in advance of when they happen.

In this episode of the Seven Figure Consultant Podcast I talk more about this including:

–      What you CAN do to protect (not proof) your business from an oncoming recession

–      Why one-size-fits-all formulas usually fail

–      The most overlooked cause of risk in any business

–      And the huge risk we nearly overlooked when scaling at my employed position.

🎧  Head here to listen to the full episode – 025 Can You Recession-Proof Your Business?

And tell me, has your awareness of the risks facing your business increased in the last few months?

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