It’s goes way beyond having insurance.
Businesses face serious threats to their existence whether they operate on Main Street or are startups chasing a potential global market. So why do so many operations fail to do formal risk assessment?
- If you rely on a cloud supplier for critical applications, what happens when the security is compromised?
- If you’re a food manufacturer, what’s your next move when the water supply tests bad?
- What would you do if a key employee died unexpectedly and you didn’t know the passwords?
It may be human nature to turn away from worst-case scenarios but it’s not smart business. These examples and dozens more make up the real life trauma that have put many companies out of business.
Learn the basic external threats every business (no matter how small) must address and how and why you should spend attention and money on mitigations for the biggest risks. We also examine “Black Swans” (unpredictable and highly improbable events) and show how even Main Street businesses must learn to prepare for the worst. After all, whoever heard of a pandemic?
Brenda Lewis is Principal of Stamford-based Transactions Marketing, Inc. An entrepreneur with 40 years of venture management and tech start-up funding experience in enterprise software, systems and services, Brenda has launched 23 ventures, including Polaris Wireless, the global leader in 3D location determination, Telerate, the first wireless bond and FX trading system, and Wirelution, the first privately funded mobile data venture for China Mobile’s Internet portal. She was part of the team which built the first global, real time, satellite vessel communications and control system for Exxon and is founder of TechXel Stamford, LLC, the first B2B accelerator in Fairfield County. Prior to founding Transactions Marketing, Brenda spent 15 years in systems and marketing with Exxon, Marine Management Systems and Howmet Aluminum.