I had the opportunity to speak with our resident risk management expert today. We were discussing enterprise risk management, the tools to do so and what is necessary to manage risk. He then said something directly related to Managing the Business of You. “If you don’t know what’s important to you then what’s important to everyone else will become important.” Stated another way, If you’re not managing what’s important to you, someone else will manage you to meet their own purposes and what’s important to them.
Before ever applying any risk management principles it is key and critical to understand what’s important in your own life. A vision of your life and what you want it to become is required before you can know what’s important to you. From a vision, we can develop goals, objectives and strategies on how to achieve it. This is know as the VGOS tool (Vision, Goals, Objectives & Strategies). Out of VGOS, we can then identify the things in ourselves and in our environment having potential to prevent us from bringing about our vision. This is where risk management starts. If we have a goal or objective at risk due to internal or external influences, it is up to us to manage our business to make sure the risk doesn’t manifest or if it does we have a plan to deal with whatever may happen.
This may sound all technical and such, but the principle is simply. If you know what’s important, you have to make plans and take action to make sure what’s important stays important. If your family is important then make decisions that ensures your family’s viability. If your health is important then it’s up to you to make decisions and actions that help you regain or maintain your health. If your wealth is important then invest your time, attention, attitude and actions to make it happen. If your spirit is important then find those connections and situations that fuel it. Perhaps you have many important aspects of your life. Without health we can not achieve wealth. Family and career are both important as is our spiritual nature. This is the balancing act of living. Managing risk is something we all do whether we know it or not. The more we are aware of ourselves and what’s important to us, we can empower with tools to bring it about.