Thomas M. Bragg on Business Risk Management

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Over the last few months I have described the process for managing small business risk in a series of posts. Here is the complete series in order of the risk management process steps.

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Please feel free to contact me with any questions.

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Introduction & (hopefully) Motivation

• 5 Reasons You Should Care About Managing Risks
• I Want to Manage My Risks. Where Do I Start?
• Fear Not Risk, My Friend. Master It!
• Should You Go Formal or Informal?
• The Value of Risk
• Permission to Make Mistakes
• 10 Steps to a SMB Risk Management Process (guest post for ClearRisk, Inc.)

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Step 1: Identify Risks

• 3 Categories of Risks
• Easy Money! Manage Your Opportunities
• The 5 Coulds Technique
• 39 Examples of Small Business Risks
• Home-based Business Risk

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Step 2: Evaluate Risks

• Evaluate Your Risks, Part I – Why?
• Evaluate Your Risks, Part II – The First 2 Steps
• Risk’s Impact on What?
• Evaluate Your Risks, Part III – The Last 2 Steps
• The Miracle of the 80-20 Rule
• Sexy Models of the Financial Kind

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Step 3: Plan for Risks

• Mitigate Risks, Exploit Opportunities!
• The Solution to Every Decision

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I know, risk management sounds scary. Hopefully, what you read in the posts above helps make it less scary. As we continue our discussions you will see that there’s nothing to be afraid of. In reality, you’re already doing it every day – you just don’t realize it.

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Remember, risk management is only two things: working to avoid or minimize the bad things that could happen to your business and working to take advantage of the potential good things.

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Please feel free to contact me with any questions.