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Showing posts with the label risk

How Planning for Failure Can Help Ensure You Don't Fail

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We all want things we're working on to be successful. Nobody ever plans to fail... but wait, planning for failure can be a useful exercise. The term 'premortem' comes to us from the field of project management. According to the Harvard Business Review : "A premortem is the hypothetical opposite of a postmortem. A postmortem in a medical setting allows health professionals and the family to learn what caused a patient’s death. [...] A premortem in a business setting comes at the beginning of a project rather than the end so that the project can be improved rather than autopsied." Instead of considering what might go wrong, you 'pretend' your initiative has already failed. Then you brainstorm to come up with all the possible reasons for the failure. This gives you the perspective of hindsight, which works differently than foresight. And you can see that this also ties into risk. A simple example might be when I decide to make a special offer. The obvious f...

Knowing When to Go

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Change is a wonderful thing - it keeps life interesting. It allows our businesses to evolve and do better. When we can plan and drive change successfully, it can be very rewarding. Then there's the change that's forced on us. You know, like when your website hosting company goes belly up. Or your PC dies at an inconvenient time, precipitating an unplanned but long-thought-about change to Mac . Or when the bulk email application you've been using for 10 years keeps dumping functionality that you and your clients need. (OK that last one is me.) Forced change is rarely pleasant and it's hard to get excited about how things will be better when we're buried in the work of making the change. And, of course, it never happens at a convenient time! Managing risks can be complicated. I wish I had acted sooner. I'd like to think I'll learn from this experience and act sooner next time. Procrastination is sometimes convenient, and sometimes worthwhile, b...

Haste Makes Waste

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Rushing can lead to mistakes. We all know that but still we rush. Sometimes it simply means spending valuable time redoing something. Haste can waste more than time.  It can also hurt my reputation if my mistakes are public. A little risk assessment before we start hurrying can save us heartbreak. I'll risk my time but I won't needlessly risk my reputation. Sometimes just showing up isn't enough. Click to Tweet this Article