The Riskiest Asset in Any Business

When business owners think of risks, they try to avoid them. Makes sense right? Risk management, doing what works.

Making sure whatever they’re doing is safe, doesn’t ruin their reputation, or lose customers. 

But they might be holding on to the riskiest asset in business. I’m here to share with you how you can avoid that, and stop it from breaking your business. It’s closer to you than you might think.

The riskiest thing in business is always the unexpected. Something people don’t know about, don’t think about, or ignore because they think it’s not important.

And that’s why their business fails. It’s like everything is going fine, going full steam ahead, 100 miles per hour, moving in the right direction, and then… all the sudden, it all breaks. 

Everything’s gone. All crumbles down. Back to square one. 

I know it doesn’t look like that can happen any time, but I guarantee you, it sure can. Any business at any second.

But the good news is that you can prevent that from happening, I’ll show you exactly that. It’s so simple that's why most business owners just ignore it.

So what is the riskiest asset in any business? 

It’s actually…

The Most Important Asset in Your Business

Yes, I’m saying your most important asset can break your business.

Think about it. Do you have that one thing that’s keeping your company afloat? Maybe you have that salesman that’s closing all the leads.

Or you have one specific way of getting customers. It’s working. Has been for a very long time, and there’s no need to change it. 

Do you have that assistant that has all the company’s password? Or do you have that certain someone that’s so important to your business that if they leave… you’re gone.

Those are disasters waiting to happen. Top salesman could work for a competitor, could get sick, hamster could die so he quits his job. Who knows?

This happened to one of the few people I look up to. Yes the hamster thing but also something far worse. The man was a real estate agent for decades, had it all going for him. Moving in the right direction, full steam ahead. 

And what was his most important asset? Sure it could be his house, his business, or anything. 

His asset was his best friend, his business partner. And what did his friend do? He ended up stealing $200,000. It’s too enticing for someone with their hands in the cookie jar, they could take it any moment.

Someone with the keys to the kingdom disappears and everything comes tumbling down.

That could be your business. That one pillar holding your company could break any second.

That’s why you should identify the one pillar in your business, find the key weakness, and do everything in your power to have more pillars under that one thing.

What is one thing that your business can’t run without? Who is that someone that’s irreplaceable for the company?

Who’s the person in charge of getting all the clients? Would your business survive if a certain someone worked for a competitor? 

These are just some questions you could ask. Diversify, expand, and protect yourself from the most important asset in your business. 

Talk soon,

Chayawee Mala.

P.S. If you want to attract more clients using FB / Instagram, download the guide here.

P.S.S. Check out some articles below, it would help with any type of business really, enjoy.