MITIGATE RISKS

Accelerate your business with these expert tips on "Mitigating risks". Analyse and discover this TIP!

Reduce their impact or bad effects on your business. We offer you many tips so that the risks of entrepreneurship do not affect you. The hypothesis validation (+) is the best method to mitigate typical start-up risks. Discover the problem you are solving and fall in love with the problem, not the solution.

Look at the typical cause of business failures such as timing (too early or too late), poor financial planning (no cash flow), inadequate partners.

Be aware of your risk aversion to identify when to slow down or speed up at each stage of the project. Map the risks that may affect the development of the business and start mitigating for the ones that can hurt you the most. Sit down with an insurance expert, a broker can help you to mitigate some of them with financial products according to your needs. business model (+) and management.

Choose your partners (+)If you do not have a lot of money, your participation must make a lot of sense, as it is advisable to take on as little debt as possible. The best financing is to get customers, the more customers you collect, the less financing you will need.

Start your business with variable costs, with little leverage at the beginning. Costs are either Fixed or Variable depending on how we negotiate them, at the beginning we have more capacity to make them variable. Use your imagination.

Hire suppliers in a conscious way by negotiating what is in your interest. At the beginning it is better not to invest, it is better to rent, pay salaries on commission for results achieved, better commercial agreements than staff.

How Do I choose the negotiation strategy that suits me best?

The most appropriate strategy depends on the moment you are in, in the start-up there is more uncertainty and therefore you have to take less risk... it is better to start with most of the variable costs.