Have you ever noticed as you drive down the street how other drivers are paying more attention to things other than driving their cars? Checking their emails, reading or sending texts, looking anywhere but the road …the list seems almost endless. In fact, recently while driving down the street I saw a woman putting on her makeup. I had to do a double-take when we stopped for a light.

The challenge we have is that many folks do not have a clear understanding of risk and its implications. They think “it won’t happen to me.” When in reality, statistics are staggering. Some Experts state that accidents involving injury or death are in the millions!!

This “it won’t happen to me” approach spills over into business. Too many Leaders do not assess their risks and mitigate them.

Operationally, so many risks can be mitigated. For example:

• Creating repeatable processes that mitigate errors and provide clarity on what needs to be done
• Understanding roles and responsibilities by all Staff
• Assessing and then documenting processes for training and reference
• Establishing internal controls to mitigate fraud
• Defining methods to measure success

Avoid an accident and assess the risks that can compromise your successes. Questions? Do not hesitate to contact me at CharleneA@mycooresources.com. Also, check out our blogs and previous newsletters and/or emails at http://www.mycooresources.com/?cat=3

A couple had built their house over 15 years ago. It was designed with them in mind and they liked the layout, the square footage, in fact there was not anything they did not like about it.

However, over the last several months, cracks in the wall started to appear and the dining room floor began to buckle. They could not open their windows on the second floor. After hiring a structural engineer to assess the problem, it was determined that the house was built on a weak foundation. It would require an immense amount of disruption, cost, and effort to resolve the problems.

Often, in the early phases of a Company, the Business Leader does not consider the implications of building on a firm foundation. Things are looking good, business is coming in the door, and the Company is growing. However, like the couple with the house, over time, a weak foundation will begin to create unnecessary challenges. Folks leave and their knowledge walks out the door. Quality begins to suffer. Customers get angry over delays and errors. Staff are unsure of priorities. 

Building a strong operational foundation is critical to the long-term success of any Company. This is what My COO Resources provides: a structured methodology to build a strong foundation.

Questions? Do not hesitate to contact me at CharleneA@mycooresources.com. Also, check out our blogs and previous newsletters and/or emails at http://www.mycooresources.com/?cat=3