Understanding Risks | Management | Appitite | Tolerance | Emotional | Physical | ThinkerNick Podcast

Business Start Ups, Business Insights, Beginner Entrpreneurial Advice, Personal & Self Development

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In this Episode we talk about how to best understand risks in everyday life. What questions should be asked when you are faced with a risk. We look at the MAT in risk taking and dive into the biggest challeges and risks that businesses face today. We discuss the different frameworks that people can use for assessing risks using De Bono's methododlogy. The PMI or Plus Minus Interesting Framework and the consequeces and sequals framework. We reflect on the AGILE methos and the lean start up's concept called launch and learn. Nick discusses his experience and learnings from the podcast. We look at the biggest risks we have taken in life and briely touch on emtional risk, physical risk and economical risk.

--TIMESTAMPS--

0:00 - Introduction

1:38 - What is a risk?

2:22 - What questions should you ask yourself when taking a risk?

5:04 - Risk and personal harm 7:04 - What are the biggest risks that businesses face today?

9:32 - Risk Appitite

13:23 - Risk Tolerence

15:09 - Is there a framework you can use to assess risks?

16:09 - PMI(Plus Minus Interesting)

18:45 - Consequences and Sequels Framework

19:40 - Challenege with risk when it comes to entrepreneurship

21:40 - AGILE approach in software development

24:13 - Nick's learnings

24:52 - What is the biggest risk you have ever taken?

28:45 - Outro

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