Thinking about what could go wrong.
WHY IT HELPS
People plan for success. Systematically listing failures is uncomfortable and easy to skip.
HOW TO ASK
"Here is what we are planning. What could go wrong? For each, how likely, how serious, and what would reduce it?"
WHAT IT PRODUCES
A conventional risk list. Useful as a starting point.
WHAT TO ADD
Risks specific to your situation that the model cannot know.
THE MOST USEFUL QUESTIONS
"What would be the most expensive way this could fail?" "What are we assuming will not happen?" "What has gone wrong for others doing this?"
FOR CONTINUITY
"What would stop this business operating for a week? What would reduce that?"
Most small businesses have never asked this and the answers are sobering.
WHAT TO DO WITH IT
Address the two or three that are both likely and serious.
A register of twenty risks nobody acts on is paperwork.
WHAT IT DOES NOT REPLACE
Insurance advice, legal advice, or a proper assessment where one is required.
