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Sam Campbell - Business Risk & Continuity Coach, Po Box 186, Point Cook (2026)

30/05/2023

While risk and uncertainty are often used interchangeably, the two elements are subtly different. Does terminology matter?

You bet!

RISK = the potential impact of UNCERTAINTY on OBJECTIVES.

By focusing on UNCERTAINTY and OBJECTIVES, leaders can take a more holistic approach to managing potential sources of RISK.

This involves identifying the potential impact of uncertainty on their organisation's objectives and discovering pathways towards appropriate mitigation strategies.

I don't know about you, but I think "we" in the risk sector have made embedding risk into organisations far more complicated than it needs to be!!

If you want to embed (No-Nonsense) risk-informed decision-making into your Local Government, For-Purpose or Small Biz Start-Up, book a call via my webpage https://lnkd.in/gxxnjrRu.

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18/04/2023

https://www.samcampbell.com.au/veterans-small-business-mentor-program

This program is a unique opportunity for current and former military veterans to gain the insights needed to start and grow a successful small business.

There are no hollow promises, unrealistic guarantees, no secret herbs and spices, and definitely no BS.

This is a partnership where we work together to establish the fundamental building blocks of your MVP/S so you can move your business idea from concept to planning and ex*****on.

Here is why. In June 2022, there were 2,569,900 actively trading businesses in the Australian economy. However, during that preceding financial year, 12.7%, or approximately 305,085 businesses DEREGISTERED*. It's fair to say that most didn't simply get bored of making too much money.

Don't make the same mistakes!

The program is designed to provide hands-on mentorship, guidance and support from an experienced entrepreneur and former ADF member.

I have walked both sides of Civ/Mil line and I am well placed to help you consider the steps and risk-informed decision-making needed to successfully launch your Minimum Viable Product or Service (MVP/S).

*Source - Australian Bureau of Statistics

18/04/2023

In today's fast-paced business environment, the allure of quick solutions and easy answers is stronger than ever. As small business start-ups face the pressure to achieve success quickly, they are often tempted by "done-for-you" promises—software, strategies, growth secrets, and lead generation tools that seem to offer a shortcut to success. However, these one-size-fits-all solutions often fail to deliver on their promises and may even put your business at risk. Instead, informed decision-making should be at the heart of managing risk in small business start-ups, ensuring that every decision supports the organization's strategic, operational, and organizational objectives.

Informed decision-making involves considering each decision in the context of your specific business situation, taking into account your unique goals, resources, and challenges. By making decisions based on this thorough understanding, you can avoid the pitfalls of "done-for-you" promises, which often come with a host of drawbacks:

• They don't consider your unique context: "Done-for-you" solutions often lack customization to your specific strategic, operational, or organizational context, which can make them ineffective or even detrimental to your business.
• They can be costly over time: The expense of annual subscriptions for these services can add up, taking a significant bite out of your budget.
• They are often underutilized: Many businesses pay for features they never use, which results in wasted resources.
• They may require additional investment: To make the most of these solutions, you may need to hire or train staff members, adding extra costs to your business.
• They can be fleeting: If a supplier goes out of business, the capability they provided could be lost without notice, leaving you scrambling to find a replacement.

The pitfalls of "done-for-you" promises extend even further. Often, these solutions are marketed by social media entrepreneurs with little tangible business experience or credibility, promising to "increase your leads and scale." However, scaling your business is not a simple matter of flipping a switch—it requires careful planning, strategic decision-making, and the capacity to cope with growth.

By adopting a risk-informed approach to decision-making, small business owners can avoid the temptation of these promises and ensure that they make informed choices based on their strategic, operational, and organizational objectives. If, after careful consideration, you decide that a "done-for-you" solution is right for your start-up, you can move forward with confidence, knowing that you have made an informed decision.

DON'T BE LURED BY THE SIREN SONG OF "DONE-FOR-YOU" PROMISES that may not deliver the results you need. Instead, take the time to understand your unique business context and make decisions that will set you on the path to success.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

18/04/2023

Uncertainty can have a ripple effect on an organisation’s operations, impacting various areas. This is known as the uncertainty domino effect, where a single event or factor can trigger a chain reaction of uncertainty that can affect an organisation’s objectives.

To manage the uncertainty domino effect, it's essential to consider the potential impact of uncertainty on all aspects of the organisation, including operations, customer relationships, regulatory compliance, and financial performance.

By identifying potential sources of uncertainty and implementing appropriate uncertainty management strategies, such as contingency planning, diversification, and risk management, you can minimise the impact of any unforeseen events and maintain your organisation’s objectives.

For instance, if you are a team manager in an organisation, you can proactively identify potential sources of uncertainty and implement appropriate uncertainty management strategies.

Suppose a critical team member is unavailable due to unexpected circumstances. In that case, you can implement contingency plans, such as cross-training team members, to minimise the impact of any unforeseen events and maintain your team's objectives.

Practical tip: Take a proactive approach to manage the uncertainty domino effect by identifying potential sources of uncertainty and implementing suitable mitigating strategies.

Consider the potential impact of uncertainty on all aspects of the organisation, including operations, customer relationships, regulatory compliance, and financial performance.

By implementing appropriate uncertainty management strategies, such as contingency planning, diversification, and risk management, you can minimise the impact of any unforeseen events and maintain your organisation’s objectives.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

18/04/2023

Managing uncertainty effectively requires accurate and timely information. Poor decision-making often stems from insufficient information or inaccurate data, leading to missed opportunities or increased risk exposure.

To make informed decisions, leaders need access to reliable data and information relevant to their decision-making process.

To ensure that your organisation has access to reliable data and information, it's important to establish appropriate data management and information-sharing protocols.

This includes identifying the key sources of data and information that are relevant to your organisation’s objectives, ensuring that data is collected and managed in a consistent and standardised manner, and implementing appropriate information-sharing protocols to ensure that all relevant stakeholders have access to the information they need.

Example: Imagine you are the CFO of a financial services company that offers investment products to retail clients. One of your key objectives is to maintain a high level of customer satisfaction by providing accurate and timely investment advice.

However, poor data management practices can lead to inaccurate investment advice, which can result in customer complaints or potential legal liabilities.

By establishing appropriate data management and information-sharing protocols, you can ensure that your investment advisors have access to reliable and up-to-date information that they need to provide accurate investment advice to your clients.

Practical tip: Embrace uncertainty by building comprehensive knowledge about your ecosystem, consider how the ecosystem can influence your strategic, operational and organisational objectives and establish channels within your organisation to collect, collate and analyse information trends.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

18/04/2023

In today's rapidly changing environment, uncertainty is ubiquitous.

We must be prepared to manage uncertainty in all its forms, including market volatility, supply chain disruptions, regulatory changes, and technological advancements.

To effectively manage uncertainty, we need to take a proactive approach by identifying potential uncertainty influences and implementing appropriate mitigation strategies.

To manage uncertainty effectively, it's important to understand the potential impact that uncertainty can have on your organisation’s objectives.

This requires a comprehensive understanding of your organisation’s operating environment, including the political, economic, social, technological, legal, and environmental factors that may impact your organisation’s objectives.

Example: Imagine you are the CEO of a technology startup that develops software solutions for the healthcare industry. One of your key objectives is to maintain a high level of data security to protect patient information.

However, there is always uncertainty surrounding the potential for data breaches or cyber-attacks.

By implementing appropriate uncertainty management strategies, such as data encryption, regular security audits, and employee training programs, you can minimize the impact of any potential data security breaches and maintain your high level of data security.

Practical tip: Take a proactive approach to manage uncertainty by identifying potential sources and implementing appropriate mitigation strategies. Develop a comprehensive understanding of your organisation’s ecosystem, including the potential impact of political, economic, social, technological, legal, and environmental factors.

This will allow you to make informed decisions and minimise the impact of any unforeseen events that may occur.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

18/04/2023

Uncertainty is inherent in any organisational environment, and leaders must have a "calibrated" uncertainty mindset to stay ahead of the game.

This means that you need to be comfortable with uncertainty and be willing to embrace it as a part of your decision-making process.

Having the right uncertainty mindset allows leaders to make informed decisions based on the available information while recognising that unforeseen factors could impact the outcome.

This involves identifying the different types of uncertainty that may exist, such as strategic, operational, and organisational uncertainty sources, and understanding the potential impact each type of uncertainty could have on your organisation's objectives.

Example: Imagine you are the COO of a manufacturing company specialising in producing high-end furniture. One of your critical operational objectives is to maintain a high level of quality control to ensure that your products meet the needs and expectations of your customers.

However, there is always uncertainty surrounding the production process, such as the availability of raw materials or the potential for equipment failures. By recognising and understanding these uncertainties, you can implement contingency plans to mitigate the impact of any unforeseen events and maintain your high-quality control.

Practical tip: Develop the right uncertainty mindset by identifying the potential types of uncertainty that may impact your organisation's objectives and understanding the potential impact of each source of risk. This will allow you to make informed decisions while recognising the ever-present nature of uncertainty in your decision-making process.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

18/04/2023

ONE OF THE MOST IMPORTANT ASPECTS OF MANAGING SMALL BUSINESS UNCERTAINTY IS ALIGNING YOUR OBJECTIVES WITH YOUR OVERALL ORGANIZATIONAL STRATEGY.

And this is why. Risk = the impact of UNCERTAINTY on OBJECTIVES!

So the key is to focus on your OBJECTIVES, not just "risk" in isolation.

This involves identifying your key strategic, operational, and organizational objectives and ensuring that they are all working together to achieve your desired outcomes.

To do this effectively, it's important to take a holistic view of your organisation and consider all relevant factors that may impact those objectives.

For example, if your strategic objective is to increase revenue, you need to consider your customer base, your product or service offerings, your sales and marketing strategies, and your competitive landscape.

By aligning these factors, you can develop a cohesive plan that addresses any potential uncertainty leading to impact while also maximising your opportunities for success.

Example: Imagine you are the CEO of a non-profit organisation that provides education and support services to underprivileged communities. Your key strategic objective is to expand your services to reach more people.

To achieve this, you need to consider your target audience, the types of services you offer, and the channels you deliver.

By aligning these factors, you can develop a plan to expand your services to meet customer expectations (the demand) and is strategically sustainable and effective.

Practical tip: Take the time to clearly define your strategic, operational, and organizational objectives and ensure they align with your overall organizational strategy.

Consider all relevant factors, including your target audience, competitive landscape, and external market forces, to develop a cohesive plan that maximizes your opportunities for success while minimizing potential risks.

As a former ADF member and successful , I am well placed to support your .

If you want to discuss how I can support your business start-up or existing business objectives, please visit my Veterans Small Business Mentor Program https://lnkd.in/gikrjy8t.

10/01/2023

Imagine that each side of the Rubik's Cube represents a different aspect of your business, such as finances, operations, marketing, and human resources.

Each of these sides has a number of smaller pieces, each of which represents a specific element within that aspect of the business. For example, the financial side of the cube might have pieces for revenue, expenses, cash flow, and profits.

The goal of managing business risk is to twist and turn the Rubik's Cube in a way that aligns all of the pieces on each side, resulting in a smoothly functioning and successful business. However, there are many factors that can cause the pieces to become misaligned, leading to risk.

These might include external factors such as market competition, economic changes, or regulatory issues, as well as internal factors such as employee turnover, equipment failures, or mismanagement.

To mitigate risk, a business must be proactive in constantly adjusting and realigning the pieces of the cube to ensure that all aspects of the business are working together effectively.

This might involve implementing strategies such as diversification, contingency planning, and risk assessment.

By constantly turning and adjusting the Rubik's Cube, a business can minimise risk and increase the chances of long-term success.

Sam Campbell - Business Risk & Continuity Coach

30/05/2023

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