Welcome to the Managing CRE Risk Podcast with Jeremy Goodrich. In today’s solo episode, we talk about the importance of understanding risk and learning how to manage it. Jeremy shares a story about managing risk, we discuss ways to truly understand the risk in your CRE business, and we even have a little exercise for you at the end.
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At the beginning of the episode, Jeremy shares a childhood holiday story about a friend who didn’t realize the risk of a suspiciously cheap sunscreen. The story shows how we need to be able to see and understand the risk in every aspect of our lives in order to manage it effectively.
If you are a commercial real estate investor then you come across many risks in your business that you need to recognize and understand.
Understanding the risk is usually the hardest part. However, there are no new problems in the world anymore. Everything has been a problem before and anything worth solving has already been solved.
Once you understand the risk, you have to manage it. Managing the risk is not always easy either, but it’s always doable.
Our challenge for you today is to take the biggest issue you’re dealing with and ask yourself if you truly understand what the problem is and what’s the risk of failure or success in this situation.
Write down what you do or don’t understand and what actions you’re going to take to understand the problem better. Then think about the next steps you can take to manage this issue.
Mentioned in the show:
- Jeremy’s LinkedIn
- The REI Clarity Framework
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Until the next time, We truly appreciate you listening.
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