|Copyright: Markus Biegel|
“Things can and will go wrong. It is better to anticipate the problems than be slapped behind your head with them.” - Markus Biegel
5 Tips to Manage Risk for Entrepreneurs:
- Assume that whatever you plan carries double the cost. Can you still afford it?
- Will you be able to complete the next phase without relying on external funding?
- Make sure to have a Plan B and C ready in case A does not work out.
- Get advice from others. The outside perspective can give great guidance.
- Hope for the best, plan for the worst. This ensures your survival.