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Knowlton Nugget 69 - Key Lesson About Managing Risk (E165)
Manage episode 430635922 series 2955946
Innhold levert av Dan Knowlton, Lloyd Knowlton, Dan Knowlton, and Lloyd Knowlton. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Dan Knowlton, Lloyd Knowlton, Dan Knowlton, and Lloyd Knowlton eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
In this Knowlton Nugget, Lloyd shares a key lesson about managing risk. He recounts a challenging period when their business faced a gap between projects, leading to a significant financial loss. This experience revealed the vulnerabilities of a project-based income model.
To prevent future issues, they’ve diversified their income with more retainers and introduced a mix of full-time and freelance team members for flexibility.
The takeaway? Manage risks by diversifying income and adopting flexible resource strategies.
Full episode - E165: Our Biggest F*ck Ups Of 2023 & What We Learnt
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