Make sure your earnings aren’t subject to “Risky Business”
Trying to minimize damage from unforeseen events is nothing new to business owners, but a first-of-its-kind risk management study suggests companies still have lessons to learn.
From Sabine Vollmer’s article in CGMA Magazine: “Being able to link cause and effect can help businesses better manager performance-driven risks and prevent earnings surprises that disappoint you”, said Brian Barnier, principal analyst at ValueBridge. Knowing why earnings fall short also makes it easier to seize growth opportunities.
The results of the study highlight some basic questions business owners should be asked:
- Do you have sufficient insurance coverage?
- Is your IT infrastructure secure and do you have offsite backups?
- Do you have sufficient, competent professional representation?
- Have you checked your credit rating, shopped interest rates, and paid all of your debts on time?
When was the last time you performed an “out of the box” risk assessment of your business? You can review the article in CGMA Magazine or contact your ShindelRock professional to schedule time so that we can assist you.