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  • Discover innovative ways for continuous sustainable business growth in dynamic business marketplace.

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Meeting up to explore mutual business growth with BusinessRiskTV

Do you fear losing what you have created instead of valuing what you might gain from taking more risk?

How to overcome loss aversion with BusinessRiskTV.com

Fear of loss often beats the desire to gain more. Fearing losing everything you have built is natural human reaction. However is your fear getting in the way of seizing new business opportunities? Keep innovating and growing with less uncertainty with BusinessRiskTV.

Develop a holistic risk management culture to drive your business forward. Up your risk appetite to achieve more with more controlled balanced risk taking.

Develop a more assured risk management framework and risk assessment process to match your risk culture. Make sure your risk taking remains within your risk tolerance.

Do you have loss aversion bias in decision making?

Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.

If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.

Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business. 

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However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.

It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.

  • What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
  • If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
  • Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.

Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!

The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.

Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.

With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.

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Unique Ways To Increase Sales

Can you offer quality products or services for better value for money?

Are you hunting for new customers? Are you already offering discounts and incentives to attract new customers? Presumably you want as many people as possible to know? Spread the word with more cost effective marketing and advertising.

Partner with BusinessRiskTV to get your business noticed more by people interested in what you have to offer. Use quality marketing tools and techniques.

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Target new customers interested in your type of business. Drive customers to your business. Learn how to grow your business faster. Increase your customer reach.

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Harness the full innovative power of your business. Create a better future with your existing resources. Focus your assets on the opportunities offering the greatest return.

Innovate or wither and die?

Is your business in zombie mode? Is it ticking along but with a little inspiration could be zooming along! Businesses which do not innovate could wither and die in the changes which are already in motion.

If you think the decade has been changing rapidly fasten your seat belt for the next decade! Even the best businesses growing healthily are going to be subject to existential choices.

Take banking industry for example. There is absolutely no reason you will not be banking online with Facebook Google or Amazon instead of Lloyds Barcalys or HSBC.

There are already internet only or app only banking businesses thriving in the UK. They do not have the costs of bank branch network. Fewer employees delivering what especially the younger generation want online. These apps will eventually sell car insurance house insurance mortgages credit cards et al that traditional banks offer. Why could Facebook Google or Amazon not do the same with their astronomical piles of cash. Yes I mean cash as they do not need to borrow money to lend money to you which will make them even more profitable should they start their banking arm of the business in UK.

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Fourth Industrial Revolution Latest News Commentary and Risk Review

If traditional banking industry could fail to survive in future why do you think your business is safe?

Is it not a little arrogant to think your great business is going to survive the coming changes? If the UK ever gets up to speed with 5g which clearly it eventually will then another building block will be in place that will destroy many traditional businesses.

5G is both an opportunity and existential threat to many traditional businesses. Just because what you have done works for your business model does not mean it will work well in future.

are you really getting the most out of your solid business assets?

Even if you have a great business now are you sure it is operating productively? The greatest killer of UK economic growth is poor productivity. The UK does not perform any way near as productively as its developed competitors in the global marketplace.

Could your business grow faster if it took the slack from poor productivity out?

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Better Business Performance With BusinessRiskTV

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What makes a business sustainable and profitable with BusinessRiskTV.com

Good things come to business leaders who build a resilient sustainable business. A business strategy which seeks immediate payback money may not reap returns the business idea deserves. It may not be the best idea to seek an immediate return on your investment of time and money.

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A longer term plan that does not demand instant results will be more stable more achievable and more flexible to take account of internal and external risk factors. It is more likely to bring greater success.

Strategic operational and project business planning for sustainable long term business growth

Starting from a stable more predictable base and then consistently scanning the horizon for risks impacting on business objectives is a surer way to achieve business success.

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Want to know how to grow a small business into a large business with BusinessRiskTV? Reach the right people at the right time with BusinessRiskTV. Grow your business with us. We help your business grow faster with less uncertainty. Grow your business by attracting new clients and customers with the money to buy your services or products.

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Business to business partnerships with BusinessRiskTV.com

Developing mutual growth relationship via collaboration hub on BusinessRiskTV. Business collaboration ideas are developed in groups of interested partners. Looking to grow your business faster? Business experts business owners and risk professionals work together go grow their own brand to reap rewards from each flash marketing project. Projects that work are easily repeated for nominal cost.

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Mutually growth relationship with BusinessRiskTV. Find out more about the benefits of business collaboration with BusinessRiskTV. The importance of collaboration in business is that it can reduce costs increase innovation and maximise profit for all.

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Small business mutual growth partners gather together online. Business collaboration ideas are presented discussed and committed to by those interested in better ways of building business resilience and faster business growth. Multiple individual projects can be worked on at any one time.

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Subscribe to BusinessRiskTV Mutual Growth Relationship Via Business Leader Collaboration Hub

We pool business marketing resources to hit targeted market sector industry area city or country. As this form of marketing and promotion is cheap it is highly sustainable for mutual long term growth.

Partners to the flash marketing project work together to find best way for mutual benefits. When working with our partners we are keen to support the growth of your business by working within realistic timescales and existing business resources. Set your business up for business growth through improved business performance.

Grab a bit more market share with little upfront costs. Beat your competitors to new customers. Outperform your business sector or industry business rivals.

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Pick up tips on how to grow business faster. Grow your business faster in the UK and overseas. Identify new ways to grow your business. 

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