Warren Buffet has said many times that when you feel there is no risk, you are most at risk. In this training (above), Bradley shares how to control business risk rather than avoid it.

WHEN COMFORT IS THE MOST RISKY…
If you’ve ever been in a place with your business where you feel like everything is going right, you may view risk as your friend. It seems like nothing can fail, so why not take your best shot, right? Unfortunately, when you operate from this mindset, you are more likely to set yourself up for an unwelcome surprise.

Instead, you should control risk by implementing a few simple practices.
First, as a business owner you should have a shortlist of potential recruits. Even though you may not expect a team member to leave, it is a good practice to have a list of people you can call when you have a vacancy come up.
Then, you should think about what would need to continue working in your business if you took a vacation. Do you have the systems in place that will support day to day operations? Whether you plan a break or you have a life situation arise that makes it impossible for you to work in your business for a while, these systems are important.
Finally, you should have a redundancy plan in your business. The purpose of a redundancy is to prevent any disruption of system operation in the case of a technical failure or disaster by maintaining a continuity of service. What do you need for your business to continue operating if one part of the system fails?

Hopefully, you’re controlling risk in your business by implementing these simple steps. After all, there is no need to avoid risk when you have a plan in place to support your business even if something goes wrong.
MORE RESOURCES TO CONTROL BUSINESS RISK…
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