HWP Insurance interviewed Annapolis sailor, author and television personality Gary Jobson, about risk. Jobson has won the America’s Cup and knows a little about risk when it comes to winning on the world stage in sports, as well as in business ventures.
Here are some excerpts from Jobson’s interview as they pertain to taking risks in business.
“If you are in charge, you need to know what’s going on and paying attention so that the others involved can be comfortable.
It’s important not just to be aware – you also have to verbalize this so everyone knows what’s coming.
When you are dealing with technology, there is a lot of experimentation and therefore risk. And when there is risk, things happen. You try and minimize these risks by testing.
I have a daily routine. First, I have a plan of the day, then a crew meeting. The crew meeting covers what we’re going to do that day, and what each person’s job is on the boat. We also talk about what each person’s assignment will be if we get into some kind of trouble. The result is that when things happen, people know what to do. Once I’ve gone through these preparations, then I don’t worry about it. This makes everyone more relaxed and things get handled better.
Clearly set out your goals. You can mitigate risk by having some education and setting goals.
And finally, when asked how have you applied the lessons you’ve learned through sailing to your life, both personally and in your business? Jobson responded:
“There are many life lessons from the sport of sailing. In my very first race, I lost the course chart and lost the race because I went to the wrong buoy. Goal setting was the lesson here. You can’t do everything at once and the secret is being consistent and striving for incremental improvement. Ask good questions of people and listen, because people with experience and knowledge can be helpful. You get good ideas by talking to people and I find that some of those ideas are analogous. Learning from others by being inquisitive has paid off really well for me. When you’re nice to people and say nice things that seems to come around and help you.”
For the entire interview go to: http://info.hwphillips.com/blog/bid/315538/Gary-Jobson-On-Risk-Management-Lessons-From-the-World-of-Sailing