Since we provide risk management training and coaching, you might think that we believe every startup should implement risk management from the outset. You would be wrong. Since this month we’re writing about priorities here, we want to emphasize the following rule: Most of the time, early-stage startups have more important issues than risk management, including developing a minimum viable product, generating revenues, and securing financing. There are four exceptions to that rule:
1. You are entering a highly regulated industry.
2. The founders dispute priorities.
3. The founders need to energize their team to think like owners.
4. You are scaling — creating a supply chain, hiring a lot of employees, or opening additional locations.
This podcast — the first in a new series of “quick take” podcasts — explains why.
About the Quick Take Format. Unlike our “About Risk” podcasts, which address risk management processes and tips, our Quick Takes will answer recurring questions from customers or issues we have faced in our engagements or personal experiences. These podcasts will be shorter and less formal than “About Risk.” If you have an idea or question for a “quick take” topic, please let us know in the comments.