Atlantic Canada's Small Business Blog

If a risk has already occurred in your business and you are looking at solutions (i.e.; reacting to the risk), then it is an “issue” - a “problem”. It is no longer a risk. Risk is the possibility that something good or bad is likely to happen in the future. So when a risk has occurred, there is no such thing as probability then – the risk has turned into an event. Risk management is a continuous and iterative process in which you are constantly evaluating your good and bad risks, its probability of occurring and plan what you would do if the risk occurs. If you have not thought about a particular risk and it occurs, then you will immediately switch into a reactive mode and take decisions that you have not thought through. Risk management is all about being proactive. But do not undertake a risk management strategy exercise without a strategic plan in place.

The decision to undertake a project must be taken only after:
1. You are clear about the project objectives; the objectives must further the strategic objectives of the business.
2. You develop a business case for undertaking the project; i.e. the benefits must outweigh the costs
3. You are clear on the project deliverables, and
4. You have stakeholder buy-in

Here is a time saver. Often times you just do not have the time to hunt for the information. With so many blogs out there, which ones do you read; which ones provide real value? As I browse the web, I come across a number of outstanding blogs that I subscribe to and read regularly. I am going to share them with you.

But as I look down my feed reader, I realized that there was no way I could include all of them in one post - the list is just too big. So I am going to list them in groups of five. I hope to eventually cover them all in this series and WHY you should also be reading them.

After all, the goal of any business is to make money, right? Wrong! The goal of a business, including small business is to create value.

I am “CA” Atreya (PMP, MBA), the author of this blog. I help businesses in Atlantic Canada achieve their BHAG successfully. You may subscribe to this blog using a feed reader (RSS). Note: We have moved the blog to a new domain to better reflect this blog’s objectives.We have all been introduced at some point [...]

The Canadian Federation of Independent Business just released its Quarterly Business Barometer today. It shows the index has fallen in June, back to the levels displayed for most of 2006. That translates to 2-3% growth in the economy.

Risk management is the process of identifying potential negative outcomes and managing them while realizing potential opportunities. Risks are inherent in everything we do - from crossing the road to running a business. Business risk management is the key to ensure risks are identified and a plan-B thought of. Some risks we can control while others we cannot. The mere mention of business risk evokes different feelings depending on our disposition towards risk. Risk is the probability that “good” OR “bad” things may happen that will impact your objectives.

I had written a post earlier on Blogs as a strategic marketing tool. I also wrote about Is this the beginning of the end of primary marketing research companies. I just wanted to highlight Dell’s blog as a case in point and one specific example of how Dell has leveraged its blog to gather customer [...]

Starting a business is like bringing a new born home. It is difficult and challenging. As a business owner you will make mistakes; some you will avoid by learning from others mistakes and some mistakes you will make. You will stumble and fall, and just like a baby you will dust yourself and say, “Charge this to experience.” And move on.

So you have made up your mind to export. However, before you commit your resources to this project, you must first evaluate if your organization is ready to export.