Get Ready for the Iceberg

By Pramod Dhalwani   22 November, 2022

What is the first thing that comes to your mind when you think of the movie, ‘Titanic‘?

Is it cruise? Epic romance? Iceberg? Sinking? Kate Winslet? Leonardo DiCaprio?

The first thing that comes to my mind when I think of Titanic is RISK.

Why is that?

 

1)   Love Affair!

In the movie, Rose(Kate) leaves her rich fiancé for Jack(Leo) to pursue happiness. Similarly entrepreneurs also take risks to pursue their goals and dreams.

 

2)   Lifeboats

When Titanic was sinking, everyone was in a panic mode because there were only 20 lifeboats available for more than 2200 people on board.

 

What does this show?

Overconfidence. 

“God himself can’t sink this ship” – crew member

 

As entrepreneurs, we sometimes tend to get overconfident about the possible risks that our businesses could face. We should stop and ask ourselves these questions – Are my assets secure? Is my business future proof? Have I accounted for all the risks?

 

Since Titanic had not accounted for the risks it resulted in a tragic loss of over 1500 lives. Rose survived but lost her lover for whom she had risked everything. Similarly, if entrepreneurs do not assess risks, they could end up putting their families and businesses at risk of losing everything. 

 

Is your business future-proof? Do you have security? Is your business risk compliant? Or are you overconfident like the owners of Titanic?

Are you prepared for any iceberg??