5 RISKS TO CONSIDER FOR ANY STARTUP

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Starting a business is something very exciting and what everyone eagerly looks forward to. But to make it through is not an easy task. It involves a serious amount of and involvement day and night to get the startup to success. Hence the 5 main risk one must consider prior to initiating the startup is as follows:

1. Product risk: Have clarity about what you are trying to sell or provide to your target market. To convey it exactly like what you want is more important. You may know what you are doing, but if the customer gets the wrong idea, you may be in trouble. So it is necessary to develop the ability to explain and solve the problems. 

2. Market risk: Knowing your customer in all aspects is very important. To know why, when and how you’ll serve them tells you how you can reach your potential market. For this the research must be carefully done and results obtained must be reliable.

3. Financial risk: Finance is the life-blood of every business. It is nearly impossible to run a business without money. Hence to manage and control the financial resources and to invest with more care has to be an important factor to be considered.

4. Team risk: To get the team to work to the organizational objectives focused on the same direction is the key challenge. To mentor your team and to involve them in the business plans is vital. 

5. Execution risk: Planning is not what makes a startup work. The actual startup is initiated when it is executed and put into action. Maintaining the overall business execution and also the detailed execution of small plans must be taken care of. 

Rajagiri Centre For Business Studies Ernakulam, one of the top b schools in kerala offers a choice of post graduation course like MBA, MHMR, PGDM, IMBA etc. So if you are planning for a post graduation program in Kerala, Rajagiri Business School Cochin is the best choice for successful career.  

For more details and admissions, visit : https://rcbs.rajagiri.edu/



Location: Kochi, Kerala, India

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