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In the comment section for this post Jeff Overman writes:
I surly miss your posts each day but understand…your a very busy man with your fun developments going on…
Over the years many thought because of all the projects we have, all the businesses, I must be extremely busy. That is not the case. Since the very early days of getting in business I was extremely obsessed with risk management. I wrote about it here and also managed to get Michael Weisman of Recall Media Group to write a guest post about the subject here. The idea for me is to build security layers that if anything happens to anyone the businesses will continue to strive on their own. A view from the top at risk management may tell you that it is all about building a healthy living ecosystem, one that maintains itself, expands itself. If done right you can unplug yourself from it and watch it grow. If done wrong, unplug yourself and the house of cards collapses with it. Our organization is built in a way that if I suddenly disappear, or any other person/principal in the company for that matter, the organization will continue to strive, continue to expand, continue to grow. Building an organization such as RMG is not an easy task. It requires a lot of planning, adding many building blocks when needed to the structure, taking care of legal structures and adjusting as we go along, banking systems, communication systems, tech, and more. The most important part though in building such as organization, while it may sounds like a Cliché, is the people in the organization. The mindset of these should be of growth, excitement, a feeling of taking over the world, a feeling of making things happen. The people in a healthy organization care for one another, first as human beings and only then as business associates. We tend to run the business as a healthy family. There is us as individuals, and then there is us as a whole.
Building RMG with risk management in mind allows me to be completely unplugged from the daily involvements of the organization. I can count on my partners and all those with the organization to push the business forward, whether I’m around or not. My thought process here is something I’m sure many of you can relate to: What if I’m not around tomorrow? Who will support my family? my loved ones? And while the job of building such an organization is never done, and at times I’m plugged in 24/7 to add or change blocks to the structure, I would say it is not just something you want to do, it is something you must do. If built right, this is what real financial security is all about - the ability to be unplugged from your business, for whatever reason that may be, where the business won’t just maintain itself, won’t just survive, but grow.
Have a great day,
Sahar
Thats 100% correct you must be able to leave your business - Even if its for one day, one week or one month - That businss should be able to surrive without you being actively involved.
Obviously in the early stages of any company you must work hard but I think putting Risk Management from the foundations is a great way to run your business.
Regards,
Robbie
Sahar,
wow…that was a great post and learned a lot!
I think by trying new things, different approaches over the years will go a long way in your health and a fullfilling life… Your life experiences Sahar, business experiences and the way i term things as trial and error shows a better result then in a college course in business!! IMO
Every company can learn and try for this….This caught my eye on your post the most:
“The people in a healthy organization care for one another, first as human beings and only then as business associates. We tend to run the business as a healthy family. There is us as individuals, and then there is us as a whole.”
Another great post
Many companies - and not only those small ones but also really big ones - very often forget about Risk Management. Company owners work and lead the company as if they were in the company forever and that is not a case. Very bad thing about it is that those companies work perfect but only if the leader(s) spends 100% of his time on day-to-day management. The result is that he doesn’t have any time for family and his own life and in case anything happens - such companies very often collapse immediately or at least stop to grow, develop etc.
I am a very big fun of letting other people in company to take responsibility of things they do, so I really don’t have to worry much about every single thing that happens in company.
A very good pointer for a budding domainer.
Thanks for great post!
- Ismael