Avoid Taking Blind RISK
The first step in risk management is to know what kind of risk you should take. Not all meals are made for humans and not all risk are made for you. Check if the risk is of your level before you embark on taking it. Someone may be asking ‘HOW DO I CHECK IF I CAN TAKE THIS RISK?’
The how is just a line away from you.
- Know what you stand to gain if the risk taking turns out well and also know what you stand to loss if the risk taking turns out bad. If what you stand to loss exceeds what you stand to gain, you already know what to do.
- Again ask yourself this question “What will be the consequence(s) if this risk I want to take falls through? Will I be able to recover speedily? “
When you have certified that you are able to take the risk, you proceed to the NEXT step.