How SME owners can mitigate risks to their business

In this episode of the My Business Podcast, Rick Stone – former senior disaster planner for the NSW government – talks about common risks facing businesses, the costs of doing nothing, and how to implement risk management strategies.

As business owners, you must be able to cope with the stuff that life throws at you … "whether those risks are key people leaving your organisation, key suppliers going bankrupt, key customers disappearing or your building burning down,” says Rick Stone, the brains behind risk management consultancy Tigertail.

"The inevitable happens. Our business is to help organisations learn to cope with that and how to recover."

When you consider that Rick was previously the senior disaster planner for the NSW government and spent 10 years as the training manager for the SES in NSW, it’s clear he knows more than most about risk management and disaster recovery efforts.

In this episode of the My Business Podcast, Rick reveals:
• The three key risks SME owners should be planning for
• The costliest type of natural disaster, and how to prepare for it
• The lessons he has learnt in moving from a steady public service job to self-employment

And loads more!

Listen to other instalments of the My Business Podcast:
Episode 17: The nuances of business expansion
Episode 16: Adding scale and value in a services business
Episode 15: Guide to winning clients and retaining staff
Episode 14: The working mum transforming a global product chain
Episode 13: 'How I've kept my first customers for 22 years'
Episode 12: Navigating your best routes to market
Episode 11: Expert tips for getting your marketing right
Episode 10: Tips for qualifying new business leads
Episode 9: How I structure a 90-hour working week
Episode 8: How to negotiate better payment terms
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