MBA537 How to Manage Risk in Your Business

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.9 • 1.2K Ratings

🗓️ 18 February 2016

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Every single business out there will have a margin of risk. Even if your business is the best in the game. But what's important is that you know how to manage and control that risk. That is, whenever you make a decision, you have to also see and plan for the worst case scenario so that if you are faced with that situation, you can get out of it with minimal loss. We want you to be ready for anything so click play now!

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA Show, the business podcast that gets you pumped about business,
0:15.0	and it gives you the tools and strategies you need with our daily 10 minute business
0:18.8	lessons for the real world. I'm your host, your coach, your teacher, Omar Zenhome. I'm also the co-founder of the $100 MBA, a complete
0:27.5	business training and community online. And before I begin today's lesson, let me just
0:32.1	apologize.
0:32.8	I'm a little bit under the weather.
0:34.0	You'll hear my voice is a little bit nasally,
0:36.0	but the show must go on,
0:38.0	and I got to deliver your lesson for the day today.
0:41.0	So in today's lesson, you will learn how to manage a risk in your
0:44.3	business. Every single business out there will have a margin of risk. We'll have
0:50.4	some level of risk. You can have the best business
0:53.2	idea, the best business strategy, the best products, the service,
0:56.3	but there's always some sort of risk involved. Some unforeseen thing
1:00.2	could happen. Not everything is in your control, but as an entrepreneur your job
1:05.4	is to manage risk, to make sure that when you make decisions in your business that you keep
1:10.7	the risk in control as much as possible.
1:14.0	And what I mean by that is that I'm going to show you today
1:16.5	how whenever you're making a decision, you've got to see
1:19.1	what's the worst case scenario?
1:20.7	How are you able to be able to get out of that situation with
1:24.1	minimal loss? So your risk is quite manageable. I'm going to give you some really
	...

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