What Is Holding Your Business to Ransom?

Send us Fan MailWhat would happen if a bank, supplier or major customer suddenly changed the rules?Would your business be inconvenienced?Or would it be paralysed?In this episode, Peter Boolkah uses the ransomware headlines of 2017 as a metaphor for a much wider business problem:Dependency.A company can become vulnerable when too much control sits outside the business — with lenders, suppliers, customers or any other relationship the company cannot afford to lose.Peter explores why business owners need to identify where they are vulnerable and deliberately reduce those points of dependency.You'll discover:Why being held to ransom is not only a cybersecurity problemHow weak financial foundations reduce business-owner optionsWhat can happen when banks tighten lending or change termsWhy relying too heavily on supplier credit creates riskHow slow-paying customers can damage cash flowWhy dependency gives other organisations leverage over your businessThe importance of understanding where your company is vulnerableWhy stronger businesses create alternatives before they desperately need themThe lesson is not that you can control every bank, supplier or customer.You can't.The lesson is to avoid building a business where one outside party has the power to stop everything.The more options your business has, the less power anybody else has over it.CONNECT WITH PETER BOOLKAHWebsite: https://www.boolkah.comLinkedIn: https://www.linkedin.com/in/boolkahInstagram: https://www.instagram.com/pboolkah/Facebook: https://www.facebook.com/BoolkahX: https://twitter.com/boolkahABOUT PETER BOOLKAHPeter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.His approach is direct, practical and built around one simple question:Do you own the business, or does the business own you?Learn more at https://www.boolkah.com