top of page

Are you 'spreading the risk' in your business?

I believe in 'spreading the risk' in business.


Recently a client shared with me how much she loved the structure of my business. That if I, her dedicated EA, was away from the office, someone else could access her system and support her. With little to no handover. I call it the 'Plus 1' model and it's never let me down. Here's how it works:


  • My clients have a Plus 1 - that's me!

  • Each EA has a Plus 1 - hi team!


One of the riskiest things any business can do is place all their (admin) eggs in one basket. There are two clear reasons why this is risky:


  1. Legacy knowledge can leave your business exposed. While our roles naturally lend themselves to knowing a lot about how a business runs, when that 'fountain of knowledge' leaves, it's almost impossible to transfer all that legacy knowledge.

  2. It will test resilience. If one person carries the burden, it's likely they will burn out at some stage. Spreading the load and identifying a clear responsibility split will better manage the resilience of your admin function.


The benefits of this model are:


  • Everyone is replaceable. No, that's not a threat for someone to work harder. Rather it shows the team that they can take leave, switch off and the place won't burn down. As an assistant, that's great for resilience!

  • Everyone is covered. Client and EA. There's a buffer before anyone smashes the emergency glass.

  • A knowledge bank is created that makes sharing information easier and it's accessible when you need it.

  • The admin function feels more supported and part of the team.

  • My clients know that I have a Plan B if I am on leave. I allow them to rest easy knowing they're covered.


How much is your business spreading the risk?


If you, or someone pivotal to your daily operation, was out of the business for a period of time, how well would your business run?


Are you placing all your eggs in one basket?


These are really important questions to ask yourself. While it doesn't mean you need to know how to do everyone's jobs, as the business owner you have to manage and spread the risk to ensure your business (*read* livelihood) isn't over-exposed.


And if you've identified that you're the person who is potentially putting the business at risk (and I mean that in the nicest possible way because a lot of business owners carry so much!), then perhaps it's time to ask yourself if you need us as your Plus 1.


Yorumlar


bottom of page