Welcome to Digible Dudes, Episode #153! In this episode your hosts David Staley and Reid Wicoff, dive deep into the crucial world of business insurance and risk management.
We kick things off by dissecting the complexities of business insurance and understanding its importance from startup to growth stages.
We delve into the world of HR within larger companies, examining the dramatic impact of scale on labor costs and the scarcity of business resources dedicated to risk at different stages. We navigate the tricky waters of risk mitigation in property management, vendor relationships, and the delicate balance between risk reduction and mitigation costs.
To wrap things up we share our perspectives on de-risking strategies in the tech industry, the significance of employee retention, and the importance of nurturing vendor relationships. Plus, we’ll uncover how using colleagues as early warning signals can help you strike the perfect balance between reducing risk and managing the cost of mitigation.
So, buckle up for an enlightening journey into the world of business risk, strategies for mitigating them, and the impact they have on the success of your venture.
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(00:00) Preview and Introduction
(06:33) Mitigating Risk for Property Management
(12:44) Risk Analysis and Insurance in Business
(22:08) De-Risking & Evaluating ROI in Business
(34:56) Employee Retention and Vendor Relationships
(39:10) De-Risking Strategies in the Tech Industry
(43:32) How to Test New Vendors
