#BusinessEducation Management of risks American scientist and | Trendfactory
#BusinessEducation Management of risks
American scientist and investor Peter L. Bernstein believed that the ability to manage risk ensures the progress of the economy.
A number of negative consequences can be avoided by using statistics, mathematical analysis and sociological experience.
Risk is one of the criteria for selecting good entrepreneurs. The success of startup depends on your ability to predict risks, prepare, and deal with surprises.
Potential risks are important for investors. You should be well versed in the problems you may face.
Pay attention to the following steps:
Idea If you initially choose a product that will not interest the user, your idea is doomed to fail. You can also choose the wrong target audience.
Product You need to establish efficient production and distribution of goods.
Team You need to find a strong team. Employees without sufficient qualifications and experience may not be able to cope with unforeseen situations.
Market Here you may encounter ineffective marketing, aggressive competitors' policies and the interception of an idea by a more developed rival.
Investments You can underestimate the amount of funding needed and slow down development.
In future we will tell you how to assess risks and minimize them. With fruitful work and right supervision your project will definitely enter the market.
No1 Channel for StartUps. with a weekly prize pool $500-$5000 for the best business idea. Free educational high level tools from our experts. Opportunity to get real $150.000 for your start up....