Posts Tagged ‘Risks’
You Need a Contingency Plan for Every Part of Your Business
When you’re dying of thirst it’s too late to think about digging a well. ~Japanese Proverb I was dealing with a business that relied on a single supplier for products that represented the majority of its sales. When I asked the owner what he would do if the supplier folded, he answered, “I just do…
Read More5 Kinds of Risk in Building Your Business
If you could predict a crisis within your business before its occurrence, wouldn’t you move to prevent or reduce its impact? Making such predictions is a skill that can be developed, and here’s one method of doing so.
Read More How to Combat Small Business Fraud
Fraud can be hugely costly for a business, and any organization strives to detect and defend against business fraud. The factors that drive people and employees to commit fraud are complex,
Read More Franchise Business and Risk
Choosing a franchise involves putting in money as well as time, while being hired does not. This adds an extra layer of risk for franchisees. On the other hand, franchisees also have an extra layer of control.
Read More 7 Pros and Cons of Entrepreneurship
It’s a dream of so many individuals to one day have their own company. In America, entrepreneurship is often viewed as a primary barometer of success.
Read More 5 Business Risks in a Hyper-Connected World
Businesses have to look at risks, access the capabilities and install security to prevent attacks or infiltrations. Despite all the good intentions and knowledge of security issues, most businesses are lax with risk management.
Read More Investors Consider These 7 Elements to Be High Risk
If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. Yet everyone has limits, and every investor implicitly has similar limits on what makes a startup investable, or one to avoid at all costs. If you need investors, it’s important that you understand their filters, and even if you are funding your own efforts, you need to recognize the red flags.
Read More Only Those in the Fight Can Win
Entrepreneurism is all about risk. Sometimes, you can reduce your personal risk by taking in other people’s money, starting with a contract from a customer, purchasing a going business, or spinning off an existing revenue-generating portion of an existing business.
Read More Be Prepared: 6 Details That Can Shut Down a Small Business
Whether your business is in its first year, or going strong and turning a consistent profit, here are six details to keep an eye on. Overlooking these business aspects can cause financial hardship, decrease your profits, or even lead to having to close your doors permanently.
Read More Reputation Risk
A business’ reputation affects its success in so many ways. Employees want to work for a company that has a great reputation just as people want to buy from one. The best companies understand their reputations are among their most valuable assets.
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