A Discussion about risk management & Your company's value
Risk Management is keyJane Gentry and Mike Blake focus on key aspects that small and mid-sized business owners should consider in various scenarios. The first area they emphasize is the often overlooked contributor of value in a business, which is risk management. While growth and cash flow receive significant attention, being a great risk manager is undervalued but crucial. They highlight the importance of understanding and managing risk effectively to make better deals and protect the company’s value.
Jane and Mike also delve into is the owner’s involvement in the business, particularly in relation to risk management. They stress the risk of being too dependent on the owner and the need for owners to make themselves irrelevant; building a scalable and replicable business model that is not overly reliant on the owner’s involvement. By doing so, business owners can increase the value of their company and make it more appealing to buyers.