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Charlotte-ts
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JamesMillar, post: 267793, member: 5318 wrote:
Great effort to map these things out systematically – you are already ahead of 90% of others.

My only input is that.the “risk management” process you are mapping out is essentially 2 of the 4 elements of a SWOT review (strengths, weaknesses, opportunities, threats). As per with SWOT, I would consider breaking the risk management down into the two elements being “weaknesses” (internal risk management) and threats (external risk management). They are both quite different – i think most of what you have listed is internal and its certainly a good place to start. Just be aware of the external risks or “threats” as well. Broader economic forces, competition etc. That’s why the SWOT is such a good simple process and it will give you a lot of insight in a very short period of time. Plenty of material on the web to help you. You don’t need an MBA to work through it either.

Best of luck

Morning James,
Thank you. I have applied SWOT analysis to my marketing in the past and it makes great sense to also apply it here. I think while getting the stock in and website up I have been really focused on what is directly in front of me. Time to look and think bigger, but no need to make it overly complex!

Appreciate the share of information and hope you have a great week.