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:

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.

You need to establish efficient production and distribution of goods.

You need to find a strong team. Employees without sufficient qualifications and experience may not be able to cope with unforeseen situations.

Here you may encounter ineffective marketing, aggressive competitors' policies and the interception of an idea by a more developed rival.

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.