They can be enterprise specific or personal. Without goals, your SAE will struggle to improve. Make an outline of your risks to better evaluate them. A beef project will have different risks than a swine operation so take time to list the risks and set a plan to handle the problems that could arise. If you assess risks, one can get support from professionals such as bankers to aid in lowering risks.
Insurance is a needed form of risk management.
One can get crop and livestock insurance that fits the needs of the operation. It can protect income and pay for production costs. Diversification will lower risks. Diversification is a traditional way of reducing income variability. They combine dissimilar things.