John Raymont, founder and CEO of Kurion, knows the importance assessing of risk. Having led his startup company’s efforts to assist in the clean up of Fukushima, his advice on the subject comes from experience.
Raymont sat down with Fast Company for their 30 Second MBA video series to discuss why the best risk worth taking is the one that’s been analyzed thoroughly. He suggests that the key to analyzing risk is removing as much of the unknown as possible, and developing a clear understanding of the factors you can determine and control – what the payoffs of taking the risk are, whether or not you are willing to accept the consequences of failure, and whether your team can operate successfully under those conditions.
For more insight into what makes a risk worth taking, watch the full video.
Related Content from OpenView:
Risk is different from uncertainty. Since risk can be measured, it can be managed. Read this post from the OpenView Blog to determine how. And for more tips on assessing customer and market risks, watch this video.