Step 6: Exposures

Anticipate and mitigate risks that could derail your plans.

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Step 6: Introduction to Exposures

Every goal or plan comes with risks. These risks, if not identified and managed, can derail your progress. In the Exposures step, you’ll focus on uncovering potential risks, challenges, and vulnerabilities that could arise along the way.

This step is about being proactive. Instead of reacting to problems after they happen, you’ll prepare for them in advance. By assessing the likelihood and impact of different risks, you can create strategies to minimize or avoid them.

By the end of this step, you’ll feel confident knowing you’re ready to face unexpected obstacles with a clear plan in place.

Key Objectives

Challenges and risks are a natural part of any endeavor, but with good risk management and backup plans, you can handle them confidently.

Identify Potential Risks

What could go wrong?
List the risks and challenges that could disrupt your plans. Consider internal risks, like time constraints, and external risks, like market changes.

Assess Risk Likelihood and Impact

How likely is this risk, and how serious could it be?
Evaluate each risk based on how often it might happen and how much it could affect your progress. This helps prioritize what to focus on.

Plan for Risk Management

What can you do to prevent or minimize risks?
For each risk, create strategies to reduce the chances of it happening or lessen its impact if it does.

Create a Backup Plan

What’s your Plan B?
Think about what you’ll do if a major risk becomes reality. Having an alternative plan ensures you can keep moving forward, even if things don’t go as expected.

Exposures Trigger Questions

To uncover and mange exposures, take a moment to reflect and ask yourself the following questions

  • What internal challenges (like time or resources) could create problems?
  • What steps can I take now to avoid these risks?
  • What external risks (like market changes or competition) might arise?
  • Who can I rely on for support if challenges arise?
  • How likely are these risks, and how severe could their impact be?
  • What strategies can I put in place to prevent or minimize these risks?
  • Do I have a backup plan in case something goes wrong?

  • Who can help me assess risks effectively?

Planning a Trip Use Case - Exposures

In the Exposures step, take time to consider what potential disruptions could affect your travel plans and how to address them. For example:

  • Potential risks: Your flight could be delayed, the weather might not cooperate, or a key activity could be unavailable.
  • Assessing risks: Flight delays are fairly common, but bad weather depends on the season.
  • Managing risks: Book travel insurance, plan indoor activities as a backup, and keep flexible travel dates.

By thinking ahead and preparing for these risks, you can enjoy your trip with peace of mind, knowing you’re ready to handle any surprises and make the most of your experience.

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Actionable Tips

Here are 5 practical tips to succeed in the Exposures step:

  1. Create a Risk List: Write down all possible risks and challenges related to your goal.
  2. Rank Risks: Focus on the risks that are both likely to happen and have a big impact.
  3. Plan Ahead: Think of ways to prevent risks or lessen their effects. Consider alternatives or backup plans.
  4. Stay Alert: Keep an eye out for warning signs and triggers that could signal impending risks.
  5. Communicate: Discuss potential risks with your team or stakeholders to ensure everyone is on the same page and prepared.

Frequently Asked Questions

Next Step

You’ve prepared for risks—great! Now connect your efforts to your long-term goals. Learn how in Step 7: Significance.

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