Brutal. Honest. Totally Necessary.

In this episode, Robert talks about evaluating your business risk and looking at the potential upside – getting it wrong really hurts.

Robert reminds us that as entrepreneurs, it’s critical that we have vision, excitement, and forward positive thinking. If we don’t have that, we won’t be able to achieve what we set out to do.

On the flipside of that, Robert tells us that if we look at everything with a positive attitude, we’re eventually going to get blindsided by a problem that could be catastrophic. Looking at the downside is just as important for the long-term health of your business, but obsessing over the risks could also be detrimental.

Robert talks about the different types of risks that we need to be aware of, and he provides some perspective on risk assessment for different sized companies. We get to hear the steps that we can take to navigate between risk and upside potential, and Robert emphasizes the importance of evaluating not only the risk impact but also the likelihood of the risk occurring.

Evaluating the downside risk can be a very positive boost to your self-confidence and push you in the right direction in your business.

Highlights

Courage is being scared to do something but doing it anyway.“We as entrepreneurs and professional salespeople tend to be dreamers and look at what’s possible.”“If not everything is what it seems, what it means is that it usually is.”“You have to pair positive expectations with honest and sometimes brutal evaluations of not only where your business is but also evaluating each tactic or strategy in your business.”“Your mind is more like a garden, and you can sit there and tell yourself there are no weeds, but they’re going to grow and there’s nothing you can do about it. Instead, you’ve just got to pull them and move on.”“Vegas wasn’t built on winners.”There are different types of risks: Regulatory Risks, Economic Risks, Legal Risks, and Business Specific Risks.“Business is about taking risks, but to be successful, you need to take calculated, well thought out, logical risks.”Robert sorts his risks into 3 categories: Minimal Impact Risks, More Substantial Impact Risks, and Catastrophic “Business Killer” Risks.