Experience, the Tardy Professor. Risk Management moves painful hindsight into goal achieving foresight.
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There is a huge difference between hindsight and foresight. Hindsight teaches the hard way; with foresight you can avoid the pain of that kind of learning experience. The Protect-Biz process can move what would become hindsight into foresight.
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Experience, the Tardy Professor. Risk Management moves painful hindsight into goal achieving foresight.
- 1. blog.sms-ga.com EXPERIENCE, THE TARDY PROFESSOR April 5, 2013 Each of us has our very own Professor of Experience, our personal and primary teacher once we leave structured schooling. If we pay attention, our Professor of Experience can teach us things across an infinite range of subjects. But everyone’s Professor of Experience has one fundamental shortcoming – he or she always misses the first opportunity to guide us to do things right. It seems we are destined to make mistakes at least once, and therefore we are sentenced to dwell in the Land of Hindsight. What kinds of mistakes? Ignoring changes in the market; allowing supplier prices to increase unnoticed; cash flow shortfall, PR gaffe, security breach, rework and call-backs; misplaced trust in others; being blindsided by employee/tenant/customer/ patient/client defections; you name it – anything that can disrupt progress toward your goals. A multi-million dollar resort and real estate development company totally missed the 2008 economic downturn. It had to declare bankruptcy and was sold on the courthouse steps. The downturn could have been detected much earlier with the unique Tripwire ® feature of Protect-Biz . The results could have been much different. Everyone knows that hindsight is 20-20. Hindsight is the reference material for our Professor of Experience. Make no mistake; this is valuable learning material. But it can be costly and painful, sometimes even beyond pain, in that first experience. The question becomes, “Can we get our Professor of Experience to show up earlier?” Yes, we have the ability to do just that. This is a primary function of risk management.Just as athletes train with mental visualization, just as astronauts and pilots train with simulators, risk management allows us to craft similar mental processes to peer into the future and change that future for our business. This can save lots of expense and pain, and even open doors for much more added value. These proactive prevention and preparation steps are basic elements of any risk management approach. Focusing on what could go wrong in the future might seem like a negative thing to do. But actually, the Land of Foresight offers much more than pain and expense prevention. It offers an uninterrupted focus on growth and success. It opens doors to opportunities we could not plan. Risk management offers fulfillment for our goals and our dreams.