A Guide to Entrepreneurship: Reduce Risk

By Lawton Ursrey | Posted: 09/03/2013 6:34PM

 

Lawton Ursey Indie Peace Sage One Warm up your wings before you leave the nest—or crash like a rock.

There are thousands of risks in starting a new company. Reducing those risks as much as possible beforehand is vital. It’s an unknown road, yes, but without the unknown, we don’t really have an entrepreneurial adventure on our hands. Foresee the ups and downs of your journey; no one else will do it for you, and it will also help you feel less stressed as you navigate uncharted territory. The clever predictions you’ve forged from your upfront due diligence will serve you well.

Sustainability is the operative word here.Once you get going, don’t stop. Anyone can start a company, but few can sustain one.The key is seeing every possible outcome and determining the required pivot you must make along the way.Remember, this is a journey, not a destination. What do the first two years look like? What are the major milestones? Do you have all you need to meet your goals? Validate your revenue model for roadblocks. Create a journey map for your business that highlights the first major achievements.

 Lawton Ursrey is the CEO and Founder of Indie Peace, an environmentally responsible apparel company, and Product Marketing Manager of Sage One, a simple, online accounting application for small businesses.

 

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