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Hello and welcome. Janet Beckers here with your Wonderful Web Tv Tip of the Week. Risk
management in your business. Doesn't sound very sexy but I tell you what, it is something
that is top of my mind at the moment and something that is absolutely essential for you for success.
So that's what we're going to talk about in this week's episode. Hi, well as you are watching
this video, I may look as if I'm actually in my lounge room but really where I am, is
at the top of a mountain in Tasmania, in a wilderness with a very heavy pack on my back
and I've been walking for a couple of days. I'm probably very, very sore.Now, one of the
things that was really important to us as we were preparing to do our seven day hike
through the wilderness, was risk management. So that's what I'm going to talk about and
how does this relate to your business? With risk management, the thing that you've got
to think about is expect the best; like I am expecting to have beautiful sunny days,
a backpack that I feel I'm getting stronger as the walk goes by - maybe not - beautiful
food that I'm going to eat, beautiful scenery and lovely company. But just as possible,
it could snow. It could snow the whole time that I'm away because this area is known for
snowing. I could twist my ankle, hurt my knee, have an injury. My pack could fall apart.
One of the people who is with me could get injured and we have to find a way to helicopter
them out; because it's a wilderness. All of these things could happen. Now, I am not expecting
that to happen, but it could. With your business, you are expecting that your website will always
stay live. That your bank will always take the money from your customers. That the things
that you're delivering to your customers will always work. That people are not going to
want refunds. That everybody is going to be really happy. But, you've got to prepare for
the worst. What's going to happen if your host goes belly up? Been there, done that
one. What's going to happen if all of a sudden, your bank cancels the way that you take payment.
What's going to happen if customers all of a sudden say "I want my money back. I'm not
happy" and you've already spent it? These are the things that you've got to plan for
and you have got to have some kind of contingency plan. So for me, as I'm going, I'm making
sure that I'm taking a really nice coat that can squish up small, that's got lots and lots
of feathers in it to keep me warm and I've got a raincoat and I'm taking bandages and
I'm taking pain relief and we're actually taking with us a way to be able to contact
the outside world with satelite. So, these are things that we are doing to prepare for
our hike. Hopefully I will never have to use those. So, I'd love to hear from you. What
things have you been caught out where you didn't plan for the worst and it snowed on
your business? I'd love to hear some examples that happened with that. Or things that you
do to actually protect yourself and do your risk management. So please share those down
below and also I'd love to hear any stories from you that I can come and read when I get
back from my walk which will only be in about a week so I can hear some stories about hiking
that you've done and you can share the things that went wrong with you because it's not
going to jinx me because I'm not going to see this until after I get back, so I'd love
to hear any war stories that you've got, where you've survived and I'll see you down below
when I get back.
Bye!