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Risk

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When you think about it, we spend a lot of time avoiding risk. All that neck twisting before crossing the street. All that salad, all those pinched pennies. All to protect our bodies from harm and our psyches from hurt. Every day we make hundreds of calculated decisions designed to lessen our risk and protect our assets. Some are so ingrained we don’t even notice.

What do you do in self-preservation? Do you limit customer returns? Charge a restocking fee? Eliminate refunds?

Shorten your store hours? Cap your customer service? Require management approval for every decision? Conduct background checks?

Sometimes running a business is like walking a tightrope stretched taut between “customer satisfaction” and “company survival.” Some decisions help you avoid an untimely demise. Others save money but cost customer loyalty.

Are you walking without a net, or is your tightrope only inches off the floor?

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