Credit Matters Blog


Kim Radok 12 April 2023

As I survey the business landscape, I am always on the lookout for opportunities to save or make money. An opportunity will always present itself when I can identify a risk. The reason for this outlook is that an unidentified risk is a potential disaster and loss-making situation for my business. On the other hand, a risk identified provides an opportunity to save or make even more money.

At times, this risk will be specific to your business, and other times, it may also be relevant to your competitors. If you take appropriate action and they don’t, there may be an opportunity for you to take advantage over them. For instance, you may be able to do business with their customers, buy essential products they cannot afford, or even buy them out.

In the long run, a healthy approach to identifying a risk early and taking action to eliminate it before it hurts your business, or to take advantage and make money. Either way, this factor

allows you to control your thoughts and act in a controlled manner. On the other hand, a risk identified just before it impacts or previously ignored, can damage your business exponentially you usually respond to the risk in a rush or in a state of panic.

There is nothing worse for any business owner or manager than to be affected by a risk factor that was well known previously and then ignored as not being relevant. For instance, believing cheap interest rates would always be available and a rise in interest rates was unlikely before 2024. Another risk is the pending recession or at best, a business downturn.

Both risks were well known for at least the last 2 years, and then were ignored by many of the people currently in financial and emotional difficulties. There are many other risks on the horizon which potentially impact negatively on your business.

On the other hand, there were businesspeople and professionals which kept their eyes and ears open in the past and didn’t listen to those with vested interests claiming all was basically OK. Consequently, they were able to take action to protect themselves from many of today’s and tomorrow’s risks or minimise the effects of these risks. Meanwhile those people which ignored the same identified risks are currently being negatively affected.

A perfect example of acting early were those businesses which reduced their dependency on debt owed and owed to them. Unlike many of their competitors and suppliers, they now find they have the cash and finance facilities available to take advantage of others in financial stress.

At the end of the day, having a healthy attitude on looking for risks, brings many benefits for saving or making money. For instance, one of the best ways of saving money is to eliminate known problems which result in greater profits and to hold a financial advantage over your competitors. If these outcomes are not enough for you, acting on the risk identified, is also a wonderful learning opportunity to make you a better qualified business person and create a more valuable business.

Want to know more, contact Kim at, or Mobile 0411 649 261, or have a look at what we offer via our website at