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Outcome driven high performance training for entrepreneurs and executives looking to be…
Articles by Ed
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How can you balance risk management with driving results?
There is a well known story about Richard Branson when he talks about evaluating new ventures. The first comment is that new business opportunities come along like London buses, there is always another one round the corner so don't worry about missing out. The second one is that the better the deal looks the more his team pull it apart as there will be weaknesses in every deal and risk in every deal. When you get hooked into what looks like a no brainer, an emotionally strong deal, then your risk threat increases as you are more likely to ignore the signs as the reward is so strong.
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How can you balance risk management with driving results?
One thing I have found helpful is to apply the sandbox method of start up testing when mistakes are made. This also ensures a no-blame culture which encourages employees to openly share concerns. The sandbox assumes you may have control over one or more parts of a test, so as you test and fail you iterate until you land on a more concrete control. Once that control is tested you can then use that in the mainstream though you still keep testing in the sandbox to see if you can beat / improve the control. The purpose of this in risk management is that you are in a continuous improvement loop and avoid complacency especially when the market is with you and SOP's can be stretched.
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How can you balance risk management with driving results?
One of the critical factors I see with businesses who have an elevated risk threat is with their SOP's. They are either being ignored due to poor training, lack of SOP's, time and productivity issues, or pure greed. Sometimes there will be occasions where you have a situation you did not anticipate and there are no protocols in place, those who survive this will have fostered a no blame culture where employees are rewarded for spotting threats and acting on them rather than ignoring them through fear of retribution. SOP's also require monitoring and reporting, there needs be an effective feedback loop in real time either through direct communication or dashboard reporting.
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How can you balance risk management with driving results?
In my experience risk falls into 3 categories: - financial - operational - reputational Risk profile fluctuates based on many factors including shareholders, stakeholders, current market conditions, competition, cash flow, opportunity, assets + people. Results also fall into short term, mid term and long term. There is a direct correlation between the timeframe of the outcome you are looking for and the amount of risk you are prepared to take. You could hire a maverick CEO for a turnaround and replace them when they have stabilised the business and made decisions others would be afraid to. Be crystal clear on the outcome then apply radical focus to executing it while always keeping a peripheral eye on what else is happening.
Activity
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In the last 3 years I’ve travelled a lot for work for Defence Australia transition seminars and when people ask ‘how was your flight?’ my standard…
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This shop offered me water, coffee, or beer to sit in a man chair while my wife shopped. They totally get it. It was an experience and not a shop.…
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Experience
Education
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Inns Of Court School of Law
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Activities and Societies: member of Honourable Society of Middle Temple
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Barrister of Middle Temple, England & Wales 1994-1996.
Licenses & Certifications
Publications
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Business Life Universe Vol 2
A contributing author and my first work of fiction in this 'TED Style' series for experiential businesses and coaches.
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The Golden Ticket to Landing Your Dream Job
Amazon Kindle
The Golden Ticket to landing Your Dream Job - the experts guide to being in the top 1% of job applicants.
The keys to job search, that Golden Ticket, are preparation and information. To join that exclusive, the top 1% of job applicants, you will need to surround yourself with the best people and the best practices.
Often that information is through recruiters and you will learn all of the tips and tricks to being visible to them, managing them, working with the best and avoiding…The Golden Ticket to landing Your Dream Job - the experts guide to being in the top 1% of job applicants.
The keys to job search, that Golden Ticket, are preparation and information. To join that exclusive, the top 1% of job applicants, you will need to surround yourself with the best people and the best practices.
Often that information is through recruiters and you will learn all of the tips and tricks to being visible to them, managing them, working with the best and avoiding the worst. Also how to apply directly to employers and how to network to find jobs.
It does not matter whether you are a contract worker, CEO, professional or casual, looking for a permanent job or building your side hustle, the process applies to everyone.
It is more reference guide than book and includes :
detailed case studies for permanent and contract work
writing a killer resume and cover letter
the art of interviewing and negotiating
why and how to use LinkedIn
how to use job boards and talent pools
salary and weakness questions
negotiating multiple offers and interviews
Courses
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Adundant Life Accelerator Program
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