So much of life is about managing risk. Every time you make a decision, you are assessing the risks involved in the options before you. I cannot think of any occasion when either consciously or unconsciously, I could have made a decision without assessing the upside or downside risks. There cannot be any situation in which you find yourself that does not contain risk.

I suppose that what it comes down to is your attitude to risk, and everyone is different. If you run a business, I am pretty sure that you are more comfortable than most living and performing in a higher risk environment.

We have a saying that if everything is running smoothly, you just have not found out what’s going wrong yet. If you are in business and especially if you are large enough to employ staff, there is always something either going wrong or about to go wrong, to one degree or another. It’s just part of doing business.

I came across a quote some time ago. I cannot remember who it was from. Anyway, the gist of it was that if you are not making mistakes, if nothing is going wrong, then you we not trying hard enough. There is another one about decision making which says that if you stand in the middle of the road unable to decide which way to go, you are going to get run over.

Personally, I like to make decisions and move on. Right or wrong. But then I have a secret, or not so secret weapon in Helen. She keeps me right. You need a Helen. Now, my Helen happens to be my wife and business partner, a dangerous combination I know but it has worked for us for a long time. I have clients who use me to bounce business ideas off. Some people speak to a commercial lawyer.  Whoever you use, you will be stronger for having that sounding board, because it is impossible, to my mind, to see all the ramifications in a strategic level business decision.

Many years ago I listened to a CD by some guru and part of it concerned operating a business in a stressful environment, and how to avoid letting the stresses and strains overwhelm you. The advice was that when you feel stressed, feel the stress. Feel what it is doing physically to your body. Don’t run away from it, but try to identify what it does to your stomach, your muscles and your head. Feel it and get to understand it. Then you can use any number of techniques to reduce those physical sensations that are playing havoc with your body and your mind. These days I just say that I don’t do stress. The physical effects are just that and nothing else.

Combine this understanding of the physical manifestation of stress with a very simple mantra. What is the single most important thing that I need to do right now? There is only ever one. So the understanding of the physical sensations gives you understanding and this little mantra sets your course for the next minute, hour, day or week.

I suppose everyone has their way of dealing with these situations.

They say that moving house, getting divorced or buying a business are some of the most stressful things you can do in life. Having done all three, and in fact, bought several businesses, I did not find any of them particularly stressful. That is just who I am.

So, what about you? Have you considered buying a business? Many people either don’t know how to go about it, or think there are too many obstacles or they feel it is all too risky. There’s certainly an adrenalin rush from negotiating a business acquisition. Once you have done one, it gets into your blood and you will probably want to do another. I have seen several business owners who find themselves in this position.

Now, buying someone else’s business is generally straightforward but then the hard work begins. It’s a bit like a second-hand car. You need to find out why the previous owner wanted to sell it, sort it out, and then hopefully enhance the profits and integrate it into your existing operation.

But that’s the fun of it. Or am I just a bit warped? Don’t answer that, particularly if your name is Helen!

Alan E Long

The Long Partnership

07770 738770