How do we approach risks?

Business Owners on a Scale-up journey get exposed to multiple risks. Taking risks are part and parcel of Scaling-up. As the saying goes - no risks, no returns. When one prepares to face the risks, it gets qualified as calculated risk, informed risk, measured risk, calibrated risk and so on…

Could one avoid risks? Probably not. Then, the next best way is to manage them. By preparing to face the risks one could increase the stakes of managing them better.

It’s in preparing; it’s in perceiving, planning our preparedness; getting ready with mitigation measures, as meticulous as possible.

Is the fear of risk directly proportional to the level of risk? Not necessarily. That way, one doesn’t fear driving a car on a highway, yet fear a discussion that one needs to have with another! though the former has higher levels of risk in terms of accident / injury.

How do we prepare ourselves to face the risks? How do we know that we are prepared-enough?

Having presence, chasing clarity, simplifying things, brain-storming, and increased levels of engagement with the stakeholders might enhance the levels of preparedness.

And then, as Robin Sharma says— If we are not over-prepared, we are under-prepared — holds good with respect to taking and managing risks!

#scaleup #leadership #ceo

[If you want to discuss specific questions that you may have on scaling-up your business, write to pk@pknarayanan.com]