Taking risks is an integral part of the life of any business. However, the leader involves not only himself but also his employees and their families in his decisions. He cannot take them lightly. Taking measured risks to transform your company requires reflection. How then to build, measure and manage them to drive your business?
Control the risk so as not to fall victim to it
Within a company, risk-taking is an essential step in the development of a project. Conscience also prevents society from growing or taking a new direction. Nevertheless, the entrepreneur must learn to master them rather than submit to them. Therefore it is necessary to limit their level to avoid crisis.
A measured risk includes:
-a Business Process which contributes to the creation of new values for the company
-a rational process who should be cooperative and suited to the position of the company
To ensure the success of your business, it is important to step out of your comfort zone and create dangerous situations that are always under control.
tips for controlling risk in a business
Measured risk taking is a whole process that you will need to integrate into your management strategy:
, risk assesment : Its appreciation assumes first its presence and then its awareness of its nature. Above all, it is necessary to perform the task of identification, measurement and analysis.
, deal with risks : It should not be abolished but it should be transformed giving a new direction beneficial to the company.
, manage risk : It is also necessary to monitor its performance. That’s why it’s important that you double your focus to make sure new decisions go smoothly.
To take an example of measured risk taking, when Bill Gates created the first versions of Windows, the bet was far from winning. It wasn’t until 1980 that the computer scientist decided to partner with IBM. This association represented an undeniable risk-taking, as the entrepreneur chose to pay on commission for any IBM computer sold with his operating system. This example is of a risky but measured bet that made Bill Gates the world’s leading fortune with almost $123 billion.
Elimination of audacity and uncertainty
For the growth of a business to remain under control, the factor of uncertainty must be eliminated. All risk-taking breeds create suspicion. However, if you allow uncertainty to take over, you run the risk of failing in your business.
Steve Jobs needed a good dose of confidence and audacity when launching the first colorful computer iMacs. At the time, the computer market advocated a minimalist design. This risk-taking is still measured, given that giant Apple bets on increasingly high consumer expectations.
Gleeden is another bold example with its extramarital dating site. With this concept, which was initially considered “reprehensible”, Gleiden today enjoys a turnover of 20 million euros. Gleeden, the leader in extramarital dating in Europe, now has over 8 million members worldwide, almost half of whom are in France alone.