Owner dependency and unmanaged risks can reduce business value and jeopardize transitions. This session addresses risk mitigation strategies to safeguard continuity and enterprise value.
What the class covers
- Identify and reduce owner dependency.
- Address legal, financial, and operational risks.
- Build risk mitigation into daily operations.
What you will work through
- Five categories of risk: operational, financial, strategic, legal, and leadership
- Owner dependency, and the plain version of it, the bus test
- The dependency spectrum, and the goal of becoming optional rather than unnecessary
- Tribal knowledge against documented knowledge
- Single points of failure across people, customers, suppliers, systems, and contracts
- The six questions a buyer asks about risk
- The reduction plan: document, delegate, develop, and disappear
- The delegation ladder, from waiting for orders to full authority
What you take home
- Owner dependency reduction plan.
- Risk audit template.
- Risk mitigation action checklist.
Who this class is for
Business owners, successors, and leadership teams preparing for transition.