How to start a side hustle while keeping your day job or boost number of income streams for your existing full time business with BusinessRiskTV.com
Work your side hustle or grow your existing business with BusinessRiskTV help and support. Do you have a unique side hustle idea? Think a weird side hustle can supplement your income? Build your best side hustle with cheap tools and techniques with us.
A side hustle is a job you can work on top of your full time or part time job
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Make money from something you are passionate about or love to do. Become more successful as an entrepreneur and grow your small business faster.
Explore innovative ways to develop your financial independence and freedom. Who knows maybe you can give up your job and become full time entrepreneur? Start your own business today!
Make money on the side of a full time job with BusinessRiskTV
Sell products or services online. Sell more direct online. Create a new income stream to boost your existing sales income. Make it easier to make money on the side of your full time or part time job. If your goal is to start your own business we can help you. Turn your side hustle into a full time job. Test out whether your business idea could grow into a bigger business.
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Incorporating all stakeholders interests in business decision making with BusinessRisk.com
Do you want financial success in terms on capital value increase and dividend increases? Are you prepared to sacrifice the interests of other stakeholders to achieve this? Is long term business sustainability less important than short term financial success?
You can be very financially successful and still fail. When financial success is pursued at the expense of other stakeholders interest you have a recipe for catastrophic failure eventually.
Responsible Investing with Environmental Social Governance ESG Risk Analysis
Shareholders and customers are stakeholders in the business performance not just senior management team. Pushing for bonuses at the expense of other stakeholders interests has always resulted in catastrophic losses.
The financial crisis in 2008 is the most recent near systemic collapse due to poor senior management team business decisions. The senior management teams were very good at creating extra value for themselves which will have long term benefits but their customers and shareholders in the financial crisis of 2008 have lost big time and many have yet to recover lost business value.
The sad fact is that shareholders or rather their representatives pension and investment fund managers have accepted and fuelled the poor decision making of senior management teams by being part of the problem. They have misrepresented big business owners long terms interests by allow senior management teams to get away with bad business decision making that only interests the senior management teams not shareholders or customers.
Find ways to grow faster and protect your business better
Senior management teams are not taking enterprise risk management methodology onboard. Too often they pay lip service to the principles and practices of enterprise risk management.
Poor risk management cultures continue to dominate
Poor compliance standards are being accepted and even encouraged
Systemically poor risk management practices flourish on basis of a level playing field. They are doing it to make money so so should we
Enterprise risk management practices and processes need to be improved to prevent future catastrophic systemic collapses in business.
Guide to better business protection with BusinessRiskTV
Governments and self regulating bodies need to drive business improvements with carrots and sticks. Personal accountability at board level is necessary before good enterprise risk management practices will be embedded. If business leaders cannot see the wood from the trees than they need to be forced to open their eyes.
Short term greed is prevalent within our corporate structures. If our oversight by governments and professional bodies do not pull their their fingers out then economic and social catastrophes lie ahead in the next decade.
There is more to business than short term profit maximisation. However too many business leaders do not hold to this view. Their greed will take us closer to the cliff edge if they are not forcefully stopped.
Do our business leaders and politicians really understand corporate risks and how this will impact on society?
Do they care? Too often the answer must be no. So they must be made to care by other people in our capitalist society. Capitalism is the best system on which to base our future but it should not be left to greedy people to rape the good that comes from capitalism.
Profit maximising corporations are not the flagships of capitalism. There is more to business life than profit. Reconciling business priorities is not easy. It is made easier with enterprise risk management principles and practices. Develop a more successful stakeholder management strategy for your business with BusinessRiskTV.
Creating business value is not just about creating more profit but we can make you more profitable too
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Use better stakeholder management to drive future success and growth for the long term.
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You may have created a good business but could it be doing better in 2020s? How could you attract more potential new customers to your business? Would expanding your business reach improve your profitability?
Create a new business development strategy for more success in the new decade
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Create innovative new income streams with BusinessRiskTV. Invest with us to stand out more from your competition.
Develop a holistic marketing plan for your products or services to reach and influence the consumers. Your new business development strategy will present your business to more potential customers more cost effectively. Take simple steps to improve your online and offline sales performance.
Partner with BusinessRiskTV to boost your business performance
Help us to understand what you really offer? We can then deliver what you need more cost effectively. Deploy the best marketing strategy for your business. We will help you to engage more with potential new customers.
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Develop a new business development strategy for greater success in business
Are you looking for faster business growth? BusinessRiskTV can work with you connect you with more new potential customers.
Scan the horizon to see what risks may impact on your business objectives. Connect with others to stay ahead of the game. Use other business leaders experience of risk to inform your business decision making. Protect and grow your business with less uncertainty.
Create your own digital video strategy to promote and market your business more profitably with BusinessRiskTV.com
Grow your brand audience and business online. Use your own marketing videos to attract more customers. Ask us to create your videos or send us your videos.
Build BusinessRiskTV into your video strategic plans to develop your business faster
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Make your video marketing budget go further.
Make your video marketing more cost effective.
Videos tend to boost business conversation rates. More people click on video than words or even images. People may even share your video to create even more potential new customers.
Videos can tell a better story about your brand and what your business offers.
Sell your brand easier and cheaper
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Integrate engaging videos into your marketing campaigns
Promote and market your brand. Get your videos in front of more potential new customers.
Video marketing is highly effective at engaging new people in your business
Create and distribute valuable relevant and consistent business information to attract and retain a clearly defined audience for your country or industry. Drive profitable customer action and business growth.
You will find related risk management articles and videos to develop your risk knowledge and business intelligence to improve your business decision making process
Create a video and we will help you get your message across to more people in your target market
Whether you own or manage a business or just have something to say get in touch with us so we can put you in touch with others.
Read citizen journalist articles and watch citizen journalist videos online
Video journalism does not have to be the preserve of the privately educated elite on mainstream media.
We can help you drive what you are passionate about belief in or are concerned about. Create your own video and send it to us. If we like it we will promote it.
In an increasingly litigious and unforgiving society should business leaders take personal responsibility for business mistakes? In previous decades business leaders and politicians were often seen falling on their sword following risk events whether they were personally responsible or not.
However either through fear of legal action or fear of being lynched online or offline leaders now rarely fess up to being to blame. There have been some exceptions but over recent decades leaders have toughed it out or doubled up on their mistakes.
It was on my watch so I am responsible
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Is the fear of blame or blame culture led us to the position that we are failing to learn from mistakes?
Regardless of the cause there is a definite change in the honour or moral standing of our leaders. Leaders who make mistakes have to be brought screaming and shouting to be held to account when mistakes happen. More often than not they are then retired early literally or metaphorically to avoid personal accountability.
Many people respect people who make mistakes more if they take responsibility for mistakes. To err is human after all even when it is a computer fault!
Would it not be better if our leaders accept responsibility for mistakes and then created a written plan to avoid making the same mistakes again in future
Does a business organisation or political party not lose the opportunity to truly learn from mistakes made if the leaders are immediately jettisoned following mistakes. Leaders voluntarily stepping down following mistakes or failures are actually taking the easy way out for themselves not necessarily the business.
Why do our leaders not clear up their own mess more often?
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Our next online enterprise risk management conference event is exploring the need for greater accountability in business and in society in general.
Register to find out more about our online risk management leaders conference
BusinessRiskTV Leadership Conference online events seek to engage top business leaders around the world in enterprise risk management topics. The result of the online discussions and interactions are not published. Instead the participants who have contributed reap the benefits for their own organisations. Their takeaways can be embedded to improve their own organisation risk management performance.
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Risk leadership theory and practical risk management advice with BusinessRiskTV.com
Pick up risk management tips. Read risk management articles and view videos. Network with top risk management thought leaders locally and globally to solve your risk management problems quicker and cheaper.
Managing business risks better with BusinessRiskTV
Global and local business management trends with BusinessRiskTV.com
Emerging trends in business management debated risk analysed and risk controls reviewed. What emerging trends in business management must you know about today? Consumers and business decision makers have easy access to business intelligence so business leaders need to use business intelligence more in risk management strategy setting to grow faster. Due to the rapidly changing business environment and increased nationalism it may be better to have shorter supply chains. Alternatively restructure your supply chains to embrace new cost saving opportunities in supply.
Spot emerging trends before your competitors to protect your business better and grow business faster
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Fully adopt new technology to react faster and lower business costs. Evolve more business from existing customers by engaging customers more in your business. Redfine they way you do business to do more business.
Identify and understand emerging risks better to inform your decision making quicker. Keep up to date with global and local trends in your industry and country. Tap into our risk management experts networks to solve business problems faster and cheaper.
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Put your products or services in front of new people already interested in your type of business offering before your competitors do.
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Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
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Building effective business relationships with BusinessRiskTV.com
To build business value in your business you may need to increase relationships with like minded business leaders. Work with us for mutual business growth. Discover innovative ways to increase the the value of your business.
Build and maintain a good business relationship with our network of top business leaders
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Whether you are an entrepreneur with a start up business offering or an SME with aspirations to grow faster you can find the answers to your business growth questions. Improve your customer relationships to improve your business brand.
Join our online community to engage more with your customers and prospective customers.
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Offer more to add more to the value of your business. Lower your long term costs to build a more resilient successful business. Increase your business value over time.
Business Collaboration Tools and Ideas Development
Work with others to build a better business for yourself. Building and maintaining relationships can be a more efficient way to increased business success.
Understand and appreciate the value of our growing online community to your business. Increase the value of your online relationships and online business growth opportunities.
What is your business worth? Could you increase its value with a little help from online business relationships?
How to improve relationship with new business partners
Expert network helping business leaders manage business risks better on BusinessRiskTV.com
Leading experts in their industry or country come together to make business decision making easier. Discover the best business practices quicker. Exchange business risk management information. Ask how to overcome business barriers.
Governance risk and compliance expert network offering you tips help and support to manage business risks
Growing your business online with BusinessRiskTV. Learn how to grow a business online. Pick up how to grow business tips. Take advantage of free marketing tools. Create an online advertising strategy to boost your online sales and business growth.
Develop a more cost effective advertisers online strategy. Pick up practical tips to grow your business faster online.
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Diversify your income streams to make your business more profitable. Reach more new customers. Expand the audience viewing your products or services. Engage people online in your business brand.
Small business owners entrepreneurs and leaders of SMEs check out our innovative ways to grow your business faster. Do you want to grow your business without spending a lot of money.
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Find out how to expand a business online
Generate new business by growing your potential customer base. Find business mentors to help advise on your business expansion. Discover new ways to meet the demands of the savvy business leader or cost sensitive consumer. No need to spend lots of money to attract new customers online.
Overcoming procrastination with BusinessRiskTV.com
Procrastination is one of the biggest risks business leaders face. Putting business decisions off until tomorrow is delaying success and future growth. The best time to act to improve your business performance is now.
Manage out the uncertainty of your business decision making process to make better decisions quicker to improve business performance faster
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If you do not make the decision presented to you at least you can say it was not your fault it went tits up! Right? Maybe but your procrastination may be impeding your business performance.
With procrastination you are not managing business risks. You are just delaying the management of risks. Face up to your business risks today!
Many business leaders procrastinate on business risks because they think that risk events will not affect their business or that they have commercial insurance so are adequately protected from business risks. Simply effectively burying head in sand will not change a thing about your business risks. Commercial insurance may provide some money when you really need it however most business risks are uninsured or uninsurable even when you have an insurance policy!
Why procrastination is bad for your business
If you are leading your business and you are a procrastinator you may well miss business growth opportunities. Worse you maybe threatening the survival of your business should a risk event occur and you buried your head in the sand leaving your business unable to cope with the consequences of the risk event materialisation.
A big drain on your business success could be having business planning meetings without actually making changes to the business. Decide what is best and act with more confidence with enterprise risk management ERM!
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Too often business leaders take comfort in talking about changes to the business but do not like the responsibility or accountability arising from actual actions to change the business. It is easy to talk a good game!
Stop avoiding the tough decisions in business
Initiate the changes necessary to improve your business performance. Accomplish more with your existing business resources and stop making excuses or blaming others! Take action and stop procrastinating. Take the right risks for your business success in future.
Risk Appetite and Risk Tolerance
Deferring business decisions frustrates most people in your business. Confident business leaders assess the risks and become action takers proactively putting in place cost effective risk management controls.
Get ahead of your competition before the opportunity for business growth disappears for your business
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You may think your procrastination is not damaging your business. Chances are it is in one way or another.
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Men and women are equal. Perhaps more importantly men and women can bring a different risk management perspective to the table. Without one makes the business more vulnerable.
Support for women in business
Men and women within the business need to be treated equally fairly to ensure the business machine works most effectively.
There can be gender differences in risk taking so an effective holistic risk management strategy requires balanced workforce making decisions on strategy operations and projects. Indeed a balanced risk management strategy requires ethnic equality as well as gender equality.
It is not about male employees v female employees
Men and women see threats and opportunities in different ways. How they respond to business risks is therefore different. Your business enterprise risk management strategy needs to recognise risk perception gender differences. The differences present the opportunity for a competitive advantage if the competition have not acknowledged and addressed this aspect of business culture. Your risk assessment process should take account of gender issues.
It is about creating a balanced all inclusive holistic enterprise risk management strategy for faster business growth with less uncertainty
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Make sure gaps in risk protection are filled. Make sure opportunities for business growth are not missed. For both of these important elements it is important that women are present at executive and senior manager level. For example drafting in a women from a lower level will not counter gender risk taking issues.
The risk management strategy needs to be written up on basis of equality in the boardroom not by having equality within a risk assessment workshop.
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Women need to be fully embedded in all aspects of the business decision making process to benefit from their risk knowledge and experience. Include their business risk perspective and experiences. Women are not better leaders than men or vice versa.
By leaving out women or ethnic minorities at senior management and executive level you may not get the big picture on risk management. Inequality in the boardroom can mean your business only achieves half its potential with the same assets. Indeed some of these assets women may decided to move to a more meritocracy driven business that values gender parity.
There is a growing skills gap in the UK and your business can not afford to miss the benefits of offering an equal opportunity career development environment.
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Advice from risk management experts with BusinessRiskTV.com
Conversation about risk management. Networking with your peers and risk management experts may short circuit identifying what your business should do to overcome business problems. Talk to our network of business management experts to find out what they think is the best thing to do for your business. Tune in online to watch our risk experts responding to other business leader questions to see if you can glean some tips for your business to adopt.
Use the skills and experience of our network of business management experts to inform your business decision making process
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Use BusinessRiskTV as a business resource to develop your risk knowledge and business intelligence.
Connect with risk management experts online with BusinessRiskTV.com
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Find out about upcoming online risk management networking events
By subscribing to BusinessRiskTV you will receive alerts and bulletins to your inbox of upcoming events to join from anywhere with Wifi. Discuss your business issues with business management experts.
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Put your products or services in front of new people already interested in your type of business offering before your competitors grab your potential online sales.
Find out how to promote your business locally and globally
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Better business planning will ensure you are ready for any risk event impacting on your business objectives. If you have completed the ground work no risk event should stop you achieving what you want for your business.
Advantages of risk taking in business with BusinessRiskTV.com
Business success normally only comes for those who take a few risks. However taking more risks does not automatically exposing your business to unacceptable risks necessary to beat the competition.
Open your business up to new business development opportunities and manage the risks that flow from this better
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You might there are better ways to do what you already do in business or find ways to do new things to grow faster.
Risk Appetite and Risk Tolerance
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Business Risk Insight and Business Intelligence with BusinessRiskTV.com
Do not get nervous get prepared! Being better prepared will give you more risk insight. Having a better handle on your business risk profile will give you more confidence. Taking more risks with confidence will increase chances of improve business performance and better business results.
Do not press the panic button
Understanding your business risk profile better will enable you to identify analyse assess and manage business threats and opportunities for greater business resilience and success. Stay calm with risk management knowledge and business intelligence. Know what you do when you need to do it whatever the business environment throws at your business.
Reduce anxiety about making key business decisions and do not let fear of risks stop you or make you procrastinate
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Use our business risk watch service to look ahead at enterprise risks that may impact on your business objectives. Share risk exposure and risk event knowledge with BusinessRiskTV network.
Read our risk reviews of developments in risk management practices. Understand what is increasingly vital to your business success in future. Manage risk in the business better.
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Enterprise risk management tools and techniques with BusinessRiskTV.com
Different business problems require a different set of skills or experience to overcome. A business problem in your industry or country facing your business may require a different solution from the solution used by your competitors. Indeed a different business solution that fits your business problem may actual reap faster growth or better business protection.
One size does not always fit all
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When looking for a solution to your business problem
be flexible
take a more risk based holistic risk management approach
use the right risk management tools and techniques that fit your business culture and attitude to business risk.
Connect with BusinessRiskTV risk expert network to find the answers to your business questions.
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Doing the same things as your business has always done without success is a definition of business madness. Find new innovative ways to help your business grow faster with less uncertainty.
Connect with our local and global risk management experts to find the solution to your business problem
Learn effective leadership skills with BusinessRiskTV.com
Develop leaders in your business. Build your business intelligence for better business decision making. Become more proficient at enterprise risk management ERM. Improve your expertise and business competence. Finesse your risk management process. Understand your readiness to take more risks to achieve more in business. Be more savvy with your risk knowledge. Use latest risk management techniques.
Use risk management experts to help you make right choices.
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Why do manufacturers not sell directly to consumers? Well actually British manufacturers are forecast to sell 13 billion pounds worth of goods direct to consumers by 2025. UK manufacturers are moving away from selling to wholesalers and retailers and going direct to consumers according to Barclays Bank.
Nearly three out of four UK manufacturers now sell direct to consumers
Barclays Bank
Manufacturers in the UK and rest of the world can use BusinessRiskTV to sell more direct to consumers. Get on or expand the direct to consumer trend. BusinessRiskTV social media and digital marketing service can put your manufactured products in front of potential buyers cost effectively. You deliver from your factory direct to consumer with your preferred consumer logistics and stay in control of the sale and distribution process. If there is any after care required you give it direct to consumer too.
Manufacturers can deliver a better quicker cheaper service to the consumer than wholesalers or retailers
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Manufacturers can reap the reward of cutting out the businesses in the middle that require a share of your profit. Boost your output turnover and profit. At the same time you can make your products more attractive to consumers by reducing the end user price paid for your products.
Manufacturers need to seize the moment. Sell more and sell directly to consumers with help from BusinessRiskTV. We can help you get started or provide an additional online sales marketplace to sell more online direct to consumer.
Ways mindfulness can improve your work performance
Maximise your performance by restoring your mind and body with mindfulness techniques. Focus your mind and body on the most difficult task at the beginning of your working day. Do not try to do everything when you start work. Assess what is the most important thing to do to achieve your objectives and do it. This may not be the most urgent thing that needs doing.
Doing what is most important is better for you in long run than doing most urgent things.
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Your business performance may come down to your attitude to risk. However focusing your resources on managing risks better could allow you to embrace business risks more build resilience and achieve better results.
Mindfulness can help you shift your response to business risks.
Be more relaxed that your business risks are under control.
Encourage a positive risk management culture.
Be more creative and innovative.
Improve decision making.
Encourage more responsible attitude to all stakeholders affected by your business activities
Rebalance your risk management process to take more holistic business risk management decisions. Optimise your business performance.
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Help to complete your own business risk assessment to be better prepared for your future
Understanding your business risk profile is an important step to making better risk based business management decisions. Identify the threats and opportunities your business faces now or will do in future. Assess the risks of this uncertainty to your business objectives. Your resulting business risk profile will help you make better business decisions. Focus your limited business resources on the risks which will bring you greatest reward of business resilience and business growth.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Profiling your business risks will help you to stop wasting time and money. You can also use your business risk profile to monitor the impact or lack of impact on your business performance.
Prepare for and manage key business risks your business faces today and tomorrow. Learn from past business risk management events your business experienced or other businesses experienced so you do not have to.
Make sure all your employees know your critical business risks. Create a more effective business risk management framework to allocate responsibilities and accountability for managing business risks.
Your business risk profile should not be a one off exercise. It should not just sit in a file with a to do list ticked. Use your own business risk to mitigate potential threats and maximise business development opportunities. Holistically manage the whole business with the best use of available existing business resources.
Enterprise risk management methodology should be applied to strategic operational and project uncertainties. Inform your decision making process with the whole picture not just part.
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Problem solving meetings and innovative business solutions with BusinessRiskTV.com
More Efficient and Effective Business Decisions
Structure management meetings to make real decisions. Make progress do not maintain status quo. Move your business forward with a meeting. Make sure your decision making meeting works well for your business.
Having too many meetings decreases productivity. A boost to productivity can be facilitated by reducing the number of meetings and making each one held more venues for better decision making. Manage meeting process better and keep meetings short.
Academics from the University of Malmo in Sweden say meetings provide an outlet for people at work to show off their status or to express frustration.
BBC Report
Managers should have clearly defined roles and accountability that they have agreed to and these should be directly linked with the strategic operational and project objectives of the business.
Just because you have manager in your job title does not mean the best thing for the business is to be in meetings constantly. Especially if at the end of a meeting not decision has been taken on the subject of the meeting.
However the BBC report says that the professor things meetings are good because they allow the business to assert power and direction over those attending the meeting. Surely meetings should be about engaging all those attending the meeting in solving a specific problem or problems the meeting has been called to address. Address means there must be decisions taken on how to resolve the issues raised otherwise they are just talking shops and can actually be more destructive than constructive.
If dissatisfaction with the business is to be allowed it should be in the understanding that you bring a solution to the problem you are complaining about not just a problem.
Find ways to grow faster and protect your business better
Effective meetings can produce better business decisions. Not all decisions made at a meeting will be good decisions. Having decided a meeting is needed make sure the potential benefit from the meeting is not missed.
Make sure ever attendee properly prepares for the meeting. Make sure what decision needs to be made is clear before the meeting and what is expected from attendees.
Make sure it is clear that people are attending not to talk about the problem but to make a decision on a specific issue.
There maybe more than one option to consider and decide on the best decision. Make sure the options are clear before the meeting.
Make sure there is a written meeting agenda and a clear idea of what decisions are needed. Make sure all attendees are suitable informed about the meeting subject matter. Send out agenda before meeting.
Holding short meetings are better than long ones. Shorter meetings should help focus minds on the key issues at hand. Short meetings can focus the energy in the room on finding business solutions not issuing direction or showcasing managerial power.
Our online breakfast meetings are highly focused on finding best business risk management solutions for your business
For anyone who has in interest in enterprise risk and risk management : explore the challenges and rewards faced by all risk managers
Our Global Risks Symposium saves time and money finding the best business management solutions for business leaders within a country or industry. Find the best risk management solution for your specific business problem. Our risk experts and your peers find practical solutions to most business issues.
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Understand business risks. Explore the key factors that lead to successful business. Apply the relevant risk management measures. Take the risk first before the competition clicks on.
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Risk Appetite and Risk Tolerance enter code #RiskAppetite
There are a number of key factors that led to successful business. Successful business leaders understand that being in business is about managing the risks from change. Unsuccessful business leaders tend to blame their failures on economic climate changes and their successes on their brilliant business management skills!
The UK retail sector is suffering major painful changes. Tens of thousands of jobs have been lost as major retailers collapsed or contracted. Yet the UK retail marketplace has some examples of major retailers bucking this trend blamed on the UK economy by unsuccessful retail business managers.
By applying their risk management knowledge successful businesses can act quicker and with more confidence it will work out
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Not taking risks is not an option for most business leaders. However many risk factors coming together can appear daunting. Enterprise risk management looks at the big picture and helps you identify the steps to a better business in future.
Find out how to improve your chances of business success with BusinessRiskTV. Take calculated risks to help your business grow faster with less uncertainty. Embrace change and the risks to your business.
Business risk assessment elements should fit your business culture. Some people do not like numbers. Some do. Your business risk assessment template should reflect the culture of your organisation.
A business risk assessment is a systematic process that helps organisations identify, evaluate, and prioritise risks that may impact their operations, financial performance, and reputation. It is an essential tool for managing risk and ensuring the long-term viability of a business.
There are several key elements that a business risk assessment should include:
Identifying the risks: The first step in the risk assessment process is to identify the potential risks that the business may face. This can include internal risks, such as operational inefficiencies or employee misconduct, as well as external risks, such as market changes or natural disasters.
Evaluating the risks: Once the risks have been identified, the next step is to evaluate their potential impact on the business. This includes considering the likelihood of each risk occurring, as well as the potential consequences if it does.
Prioritising the risks: After evaluating the risks, the next step is to prioritise them based on their potential impact on the business. This will help the organisation focus its resources on the most significant risks and develop strategies to mitigate them.
Developing risk management strategies: Once the risks have been prioritised, the next step is to develop strategies to mitigate them. This can include implementing control measures to prevent or reduce the likelihood of risks occurring, or transferring the risk to another party through insurance or other means.
Monitoring and reviewing the risks: The risk assessment process is ongoing and should be regularly reviewed and updated to ensure that it remains relevant and effective. This includes monitoring the risks and identifying any new or emerging risks that may have arisen since the last assessment.
In summary, a business risk assessment should include the following key elements:
Identifying the risks
Evaluating the risks
Prioritizing the risks
Developing risk management strategies
Monitoring and reviewing the risks
Every business faces risks that could be a threat to its success
The business leaders who are better prepared for these risks and have a cost effective risk management plan and business strategy are more likely to be more successful.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Develop a suitable risk assessment process to assist with your risk management plan preparation. Review your existing risk management process to ensure it is fit for purpose in a rapidly changing marketplace. Successful entrepreneurs have a good strategic operational and project risk management attitude and business culture that is flexible enough to cope with any economic environment.
There are numerous factors that can contribute to the success of a business. Here are some key factors that are often considered critical for building and maintaining a successful business:
Clear Vision and Strategy: A successful business requires a clear vision and a well-defined strategy. This includes setting goals, defining the direction of the business, and developing a roadmap to achieve those goals.
Market Research and Understanding Customer Needs: Understanding the market and identifying customer needs are essential for success. Conducting thorough market research, identifying target customers, and tailoring products or services to meet their needs is critical in building a successful business.
Strong Leadership: Effective leadership is crucial for the success of any business. It involves providing direction, making decisions, motivating employees, and fostering a positive work culture. Strong leadership skills help in guiding the business through challenges and achieving the desired outcomes.
Financial Management: Proper financial management, including budgeting, cash flow management, and financial planning, is vital for the long-term success of a business. Sound financial management practices help in ensuring that the business remains financially stable and can weather economic uncertainties.
Quality Products or Services: Delivering high-quality products or services is essential for building a loyal customer base. Providing value to customers and consistently meeting or exceeding their expectations builds trust and helps in retaining customers, which is critical for the success of any business.
Effective Marketing and Branding: Successful businesses understand the importance of effective marketing and branding. Creating a strong brand presence, developing marketing strategies to reach the target audience, and promoting products or services effectively can lead to increased visibility, customer acquisition, and revenue growth.
Innovation and Adaptability: In today’s dynamic business environment, innovation and adaptability are crucial for success. Successful businesses continuously innovate, adapt to changing market trends, and find new ways to stay relevant and competitive in the market.
Efficient Operations and Processes: Streamlining operations and processes can improve efficiency, reduce costs, and enhance customer satisfaction. Implementing effective systems and processes, optimising the supply chain, and leveraging technology can lead to improved productivity and operational excellence.
Talented and Engaged Workforce: A skilled and motivated workforce is vital for the success of any business. Hiring and retaining top talent, providing opportunities for growth and development, fostering a positive work culture, and promoting employee engagement can lead to higher productivity and overall business success.
Customer Relationship Management: Building strong customer relationships is crucial for long-term success. Providing excellent customer service, maintaining open lines of communication, addressing customer feedback, and building customer loyalty are key factors that contribute to the success of a business. These are some of the key factors that can contribute to the success of a business. However, it’s important to note that success is multifaceted and can vary depending on the industry, market, and individual circumstances. It’s essential to carefully plan, execute, and continuously adapt to changing circumstances to achieve long-term business success.
Strategic Partnerships and Networking: Collaborating with strategic partners and building a strong network can provide valuable opportunities for business growth. Strategic partnerships can help access new markets, share resources, and leverage complementary strengths, while networking can lead to new business leads, partnerships, and valuable industry insights.
Risk Management: Successful businesses recognize the importance of managing risks. This includes identifying and mitigating potential risks, having contingency plans in place, and being prepared to handle unexpected challenges. Effective risk management can help protect the business from potential setbacks and ensure its resilience.
Flexibility and Adaptability: Business environments can change rapidly, and successful businesses are agile and adaptable. Being open to change, willing to pivot when necessary, and embracing innovation can help a business stay ahead of the competition and navigate through uncertainties.
Continuous Learning and Improvement: Successful businesses are always learning and improving. Keeping up with industry trends, staying updated with technology, and seeking feedback from customers and employees can provide valuable insights for making informed decisions and driving continuous improvement.
Strong Customer Focus: Putting the customer at the center of the business is crucial for success. Understanding customer preferences, delivering excellent customer experiences, and building customer loyalty can lead to repeat business, positive word-of-mouth, and a strong brand reputation.
Ethical and Responsible Business Practices: Operating with integrity, practicing ethical business standards, and being socially responsible can build trust and credibility with customers, employees, and other stakeholders. Demonstrating responsible business practices can contribute to long-term success and sustainability.
Resilience and Persistence: Building a successful business is not always easy, and setbacks and failures are inevitable. Successful businesses demonstrate resilience, learn from failures, and persist in the face of challenges. Perseverance, determination, and the ability to bounce back from setbacks are key traits of successful entrepreneurs.
Long-term Planning and Goal-setting: Having a long-term vision and setting realistic goals is important for business success. Long-term planning allows for strategic decision-making, resource allocation, and monitoring progress towards achieving business objectives.
Adapting to Digital Transformation: In today’s digital age, successful businesses embrace digital transformation. This includes leveraging technology for automation, digital marketing, data analysis, and online presence to stay competitive and meet changing customer preferences.
Monitoring and Measuring Key Performance Indicators (KPIs): Successful businesses monitor and measure key performance indicators (KPIs) to track progress, identify areas for improvement, and make data-driven decisions. Regularly analysing KPIs provides insights into the health and performance of the business and helps in making informed decisions.
In conclusion, building and maintaining a successful business requires a combination of various factors. It’s important to have a clear vision, understand the market and customer needs, demonstrate effective leadership, manage finances wisely, deliver quality products or services, market and brand effectively, innovate, and adapt to changing environments. Additionally, building a strong team, managing risks, focusing on customer satisfaction, practicing responsible business ethics, and being resilient and persistent are key factors that contribute to long-term business success.
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Death of the High Street in UK has been predicted for some years. 2019 has been bad year for UK High Street with 85000 plus job losses and many retail business collapses. However saving the British High Street may not be just about tackling unfair taxation of retail on the High Street. What the High Street in UK offers consumers needs to change as what they want has changed.
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We are helping retailers and other businesses to become more successful businesses on the UK High Street. Boost your retail sales on the High Street and online with our help. Diversify your income streams. Save your shop.
The UK High Street is not dead. It just needs to change what it offers and when. It also needs to increase its innovation with the use of the internet.
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In the world of business, making the right decisions can be the difference between success and failure. Business owners must be able to weigh the potential risks and rewards of each decision before taking action. But with so many variables to consider, making good business decisions can be a daunting task. Fortunately, BusinessRiskTV.com is here to help. In this article, we’ll explore the importance of good business decisions and how BusinessRiskTV.com can help you make them.
Why Good Business Decisions are Important
Making good business decisions is essential for the long-term success of any company. Here are a few reasons why:
Maximising profits: Good business decisions can help you maximise your profits by identifying opportunities to cut costs, increase revenue, and improve efficiency.
Mitigating risks: Every business decision involves some level of risk. Making good decisions can help you identify and mitigate potential risks, reducing the likelihood of financial losses.
Building trust: Making good decisions can help build trust with customers, employees, and investors. By demonstrating your ability to make sound decisions, you can inspire confidence in your stakeholders and build a positive reputation for your company.
Improving innovation: Good business decisions can lead to innovative ideas and solutions, helping your company stay ahead of the competition.
How BusinessRiskTV.com can Help
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. Here are some of the ways BusinessRiskTV.com can help you make good business decisions:
Risk Management Tools: BusinessRiskTV.com provides a wide range of risk management tools to help you identify, assess, and mitigate potential risks. These tools can help you make informed decisions based on data-driven insights.
Expert Advice: BusinessRiskTV.com provides access to a network of experts in various industries. These experts can offer valuable insights and advice on how to make informed business decisions.
Industry Insights: BusinessRiskTV.com provides access to a wealth of industry insights and data. By staying up-to-date with the latest trends and developments in your industry, you can make informed decisions that give you a competitive edge.
Training and Education: BusinessRiskTV.com provides training and education resources to help you and your team improve your decision-making skills. By developing your ability to make informed decisions, you can improve the overall performance of your company.
Examples of Good Business Decisions
Let’s take a look at some real-world examples of good business decisions:
Apple’s Decision to Focus on Design: In the early 2000s, Apple made the decision to focus on design, creating products that were both aesthetically pleasing and functional. This decision helped Apple differentiate itself from competitors and build a loyal customer base.
Netflix’s Decision to Move into Original Content: In 2013, Netflix made the decision to move into original content, producing shows like House of Cards and Orange is the New Black. This decision helped Netflix reduce its reliance on licensed content and establish itself as a major player in the entertainment industry.
Amazon’s Decision to Invest in Technology: Amazon has consistently invested in technology, from its early days as an online bookseller to its current position as a leading e-commerce and cloud computing company. This decision has helped Amazon stay ahead of the competition and maintain its position as a market leader.
Coca-Cola’s Decision to Expand into New Markets: Coca-Cola has a long history of expanding into new markets, from its early days in the United States to its current position as a global brand. This decision has helped Coca-Cola maintain its position as one of the world’s most recognisable brands.
Ford’s Decision to Introduce the Model T: In 1908, Ford made the decision to introduce the Model T, a car that was affordable and easy to produce. This decision revolutionised the automobile industry, making cars accessible to the average person and transforming transportation as we know it.
These examples demonstrate the importance of making good business decisions and the impact they can have on a company’s success.
Making good business decisions is essential for the long-term success of any company. By identifying and mitigating potential risks, maximising profits, building trust, and improving innovation, good business decisions can help companies stay ahead of the competition and achieve their goals.
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. By providing access to risk management tools, expert advice, industry insights, and training and education resources, BusinessRiskTV.com can help companies make informed decisions that drive their success.
So if you want to make good business decisions, turn to BusinessRiskTV.com. With its wealth of resources and expert guidance, you can make informed decisions that help your company achieve its goals and thrive in today’s competitive business landscape.
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What can a business do to survive an economic crisis
Many business leaders claim external risk factors are the cause of poor business performance. They then claim full credit when the business has performed well!
Brexit uncertainty has been the perfect cover for poorly performing business leaders. No doubt their expert hand on the tiller will be responsible for improved performance after Brexit uncertainty has been removed one way or another.
The best example of excusers are retail business leaders. Worst of all is the British Retail Consortium BRC that frequently and consistently over the last 3 years have winged how difficult their members are finding the marketplace. The cause? All down to Brexit uncertainty as if it has just been sprung on retail business leaders!
The actual cause of losses shop closures and job losses has been that some retail businesses have incredibly bad business leaders who have lacked innovation and creativity. Some retail business leaders have stuck by what has worked for them in the past when in fact they needed to take action to prepare their business for a global economic slowdown and Brexit uncertainty.
Not all retail business leaders fall into this incompetent business leader camp. Many inspired and creative retail business leaders have prepared their business to changing economic environment and have or are starting to reap the rewards of being excellent business leaders.
If your CLICK here you will find some more business retail business leaders who know their onions. One company I have not heard being proclaimed as master of the High Street is Iceland. Take a walk along their food retail isle and you will soon discover that the Iceland management team have polished a turd and created a wonderful new retail business experience. Quality food is presented in great shops and offer fantastic value for money. Move over Lidl and Aldi as iceland are beating you at your own game.
What does ASDA and Sainsburys try to do? They go for a stock market solution. After trying to merge to destroy shareholder value and boost senior management team personal earnings before they retire then resort to price cuts. How innovative!
Best Retail Business Leaders To Watch – Iceland Management Team
My tip for the future is not because I am rewarded by Iceland. It is because I buy their products every week and so should you if you like quality food and great prices provided by impressive food retailers.
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What strategies can a company use in an economic downturn?
There is no doubt that the global economy is slowing in activity. No business leader can change the economic environment. Business leaders can however change how they manage the risks coming out of an economic slowdown.
Check in with BusinessRiskTV to find out what your peers are doing and what risk management experts recommend you do.
Bad situations can often be the spark and drive for better business management. Starting and growing a business in a bad economic climate can be the best situation to be in. Be prepared and do not listen to the naysayers in life and business!
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Identify the next steps for a better future regardless of the economic environment. Update your business plan and risk management strategy.
A bad economy could be the best thing for your business. Fewer competitors and more business opportunities for growth. Do not procrastinate. the perfect moment to make changes or start a business will never come until it is too late to take advantage of the opportunity. There is no such thing as a no risk business. Manage the risks to maximise performance with available business resources.
Great businesses can start and grow in any economy
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UK economic forecast next 5 years. Global business and economy experts opinions analysis and review of best guess for UK economy. Network with top business leaders and risk management professionals to help you make better more informed business decisions.
Businesses in the UK will grow over the next 5 years. Will your business be one of them. Not all businesses in UK will grow. The UK business leaders which take the right decisions to protect and grow their business will grow their business regardless of the UK economic future.
What of the future? Economic growth not contraction. The fundamentals of the UK economy are strong. Can your business exploit the opportunities for growth that are ahead?
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Is printing money a Ponzi scheme designed to bail governments out and create asset bubbles to make rich richer and poor poorer?
The claim that printing money by western central banks is a Ponzi scheme is a controversial one. Some economists argue that it is true, as printing money can lead to inflation, which erodes the value of money saved by citizens and investors. Others argue that printing money can be a necessary tool to stimulate economic growth, and that the negative effects of inflation can be managed.
Here are some of the potential consequences of printing money:
Inflation: When the government prints more money, it increases the amount of money in circulation. This can lead to inflation, as people have more money to spend and demand for goods and services increases. Inflation can make it more expensive to buy goods and services, and can erode the value of savings.
Devaluation of the currency: If the government prints too much money, it can lead to the devaluation of the currency. This means that the currency will become worth less in terms of other currencies. This can make it more expensive for businesses to import goods and services, and can make it more difficult for people to travel abroad.
Unintended consequences:Printing money can also have unintended consequences. For example, it can lead to asset bubbles, as people invest in assets in the hope that their value will increase. This can lead to a financial crisis if the asset bubble bursts.
It is important to note that the effects of printing money can vary depending on the specific circumstances. For example, the effects of printing money during a recession may be different from the effects of printing money during a period of economic growth.
In conclusion, the claim that printing money by western central banks is a Ponzi scheme is a complex one. There are both potential benefits and risks associated with printing money, and the effects can vary depending on the specific circumstances.
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Sure there is uncertainty about the UKs economic future. When has there been certainty? The key is to find ways to grow whatever the economic future or at least protect your business so it is resilient and survives.
There are undeniable challenges ahead for UK business leaders. Identify them assess their impact on your business and set a risk management plan and strategy for business resilience.
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An effective enterprise risk management framework and risk assessment process will identify assess and manage your enterprise risks.
Your enterprise risk management system should help you ensure enterprise risk awareness to mitigate threats and seize new business opportunities.
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How to make the UK currency work in your business favour
USA president Donald Trump plans to add a 10 percent tariff to another 300 billion dollars of Chinese imports on 1st September. Without a trade deal the global economy will continue to suffer not just China and USA economys. Part of the trade war rhetoric from USA is that China is manipulating its currency to keep it artificially low to gain a competitive advantage.
A weaker yuan makes Chinese exports more competitive or to put it another way a weaker yuan makes it cheaper to buy more Chinese goods with foreign currencies.
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Here in the UK the low value of the pound is held up as a bad thing for the UK economy. The airwaves are full of woe about the negative effects of the low value of the pound on the UK. In the USA president Trump moans about the Federal Reserve keeping the value of the dollar too high with too high interest rates. In addition the USA Treasury classed China as a currency manipulator as it claims China manipulates its currency to keep it lower than warranted.
The USA Treasury says China manipulates its currency to keep it lower to improve its international balance of trade and gain unfair competitive advantage in international trade. USA is taking steps in a trade war to lower the value of the dollar and push up value of the yuan.
Why does president Trump and China want lower currency valuation and UK whinges and bellyaches over low value of pound?
Most of the FTSE 100 companies in the UK benefit from a low value in the pound. Their profits are in dollars and when converted to the pound these companies receive a currency benefit to business performance. Investors including the UKs pension funds receive a low value in currency beneficial online casino bonuses at bonushitlist.
Furthermore the UK is benefiting from more income from more tourists coming to the UK. UK tourism money from overseas visitors will help boost UK economy. Business leaders in UK tourism industry should be going all out to attract visitors to their business. The low value of the pound is giving these UK tourism related businesses a competitive advantage.
Without having to enter a trade war or manipulate its currency the UK has been dealt cards that includes low value of the pound. Instead of encouraging UK business leaders of SMEs and large firms to export export export the UK media and political opportunists talk down UK economy. The result is that the UK is failing to taking advantage of the low value of the pound.
Scores of central banks around the world have recently lowered interest rates to cope with the global economic slowdown. The UK can use the low value of the pound to trade its way out of the global economic slowdown. It could that is if business leaders focused on the real threats and opportunities from the low value of the pound.
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Business Risk News : if your objective is freedom and success you will need objectivity, clarity and independence of thought from your news source to discover freedom and success in business. The wider news media is useless to you as it has its own agenda. If your recognise that this is the real truth and understand why that impacts on your ability to make your business a success then you will want to come back to BusinessRiskTV Risk News more often for help to inform your better decision making process to achieve success in business with less uncertainty. Don’t let yourself be brainwashed by the agenda of others not aligned to your business objectives.
Business Risks Every Business Leader Should Look Out For and Plan For
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Risks are an inevitable part of being in business. How you assess and manage business risks may dictate the success of failure of your business. What is the impact of risks on your business?
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Develop the right content to showcase your business products and services. BusinessRiskTV moves away from the traditional term of influencer. We work with key business risk management influencers in country risks and industry risks as well as holistic risk management influencers.
We team up with top business risk management influencers to promote your business interests in an ethical and transparent way.
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BusinessRiskTV immerses itself in business risk management trends. We build connections with the top business thought leaders around the world. Helping your brand join the conversation at the right time. Promote your brand in the best way.
Top thought leaders including academics business leaders and policy makers think cyberattacks in top 5 risks facing businesses. The latest World Economic Forum WEF Global Risks Report says we should be focusing resources on cyber risk management.
The risk of theft of data and money as well as cyberattacks resulting in disruption and damaged infrastructure remains very high. It is unlikely that this risk level will fall given the increased use of technology in every aspect of our lives and business.
What can be done to mitigate the threats and seize new business opportunities
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Positive action can be taken to manage cyber risks. We are working with leading cyber risk experts to bring you the best cyber risk management solutions.
