Optimism is the fuel that drives the entrepreneurial spirit, so it isn’t surprising that most small business owners consider themselves optimists. Too much optimism, however, can get a small business owner into trouble. A business plan built solely on the “best case scenario” is like a house of cards, one gust of wind—or fire or wrongful termination lawsuit—and the entire business can come crashing down. That’s why smart business owners temper their innate optimism with a healthy dose of reality. In other words, they learn to manage risk.
The first step in implementing a comprehensive risk management plan is identifying potential risks. To help you get started, we would like to provide you with a checklist list of the top 10 threats facing small business owners. Fill out the attached form and I’ll send you a copy right away. As you read through the list, consider the unique risks facing your business and ask yourself whether those risks are being managed effectively: