Posts Tagged ‘ Startup company ’

Apr 02
Thursday

Risk Management: A Startup Must

Filed under Tips/Advice

jmo1877lYou need to be ready for when things go wrong, especially nowadays that things aren’t going so good. Startups are hard businesses to keep afloat, and if you don’t think about the things that can go wrong, then you’re going to be set for a couple of surprises.

Here is a great way to organize potential risks, which will allow you to see them coming before they materialize on your startup’s door:

1.    Risk Factor: Think of anything that could cause harm to your startup.
2.    Type: To each risk factor, assign a type, something to set it apart from other risks that threaten your startup’s life.
3.    Likelihood: How likely are these risks to materialize? Is it something imminent or is it something that could happen in the long run? Maybe it isn’t even likely to happen, but keep everything in mind.
4.    Consequences: What would happen if those risks turn into something big? You need to know what would happen, in order to fight it.

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Comments - Posted 02.18.09
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Comments - Posted 02.11.09
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