TBL Episode 104: How to reduce risk as your business grows

Entrepreneurship is inherently risky. Period. That being said, it doesn't HAVE TO be any riskier than working for someone else. It's up to you as a business owner to be aware of any vulnerabilities your business might have and get in front of them as soon as possible. As your business grows, new vulnerabilities will come into play, but you will also have more resources available to you to make those vulnerabilities a non-factor. So for this episode, we discuss: The risks new online businesses have to deal with versus the risks more established online businesses have to deal with How a business's savings can go a long way towards making your business less vulnerable to financial risk How legal vulnerabilities can grow as your business grows How systems and processes make your business less threatened when team members leave How diversifying your marketing channels as you grow makes your revenue generation less risky Links to past episodes referenced during this podcast: TBL Episode 69: Keeping it legal with Autumn Witt Boyd TBL Episode 73: What COVID-19 is teaching entrepreneurs about financial risk TBL Episode 90: Scaling your business through process documentation with Dean Soto TBL Episode 101: When is it time to give yourself a raise?