{"id":134,"date":"2016-07-11T18:58:08","date_gmt":"2016-07-11T18:58:08","guid":{"rendered":"http:\/\/entre-plan.com\/?page_id=134"},"modified":"2016-07-12T20:42:14","modified_gmt":"2016-07-12T20:42:14","slug":"potential-risks-and-problems","status":"publish","type":"page","link":"https:\/\/entre-plan.com\/index.php\/potential-risks-and-problems\/","title":{"rendered":"Potential Risks and Problems"},"content":{"rendered":"<p>We know you&#8217;re sold on you&#8217;re business&#8217; potential for success, but are you also aware of any looming risks and problems.\u00a0 Most of us spend more time thinking about everything that can go right in our new venture, than everything that can go wrong.\u00a0 And, it&#8217;s a good thing we do think this way, otherwise we wouldn&#8217;t dare to start up a new business.\u00a0 Although we don&#8217;t want you to drown in your business&#8217; potential risks; being aware of them helps you to stay afloat.\u00a0 As well, investors don&#8217;t like to uncover, on their own, negative aspects of your business.\u00a0 It&#8217;s much better if you tell them yourself.\u00a0 Identifying and discussing the risks in your venture demonstrates your skill as a manager and boosts your credibility with investors.\u00a0 This shows investors that you have given some thought to what can go wrong in your venture, and know what to do if it arises.\u00a0 Potential risks could be anything relating to your industry, company and its personnel, product market appeal, or the timing and financing of your start-up.\u00a0 Some possibilities follow:<\/p>\n<ul>\n<li>\u00a0price cutting by your competitors<\/li>\n<li>\u00a0unfavorable industry-wide trends<\/li>\n<li>\u00a0design or manufacturing costs in excess of estimates<\/li>\n<li>\u00a0unattainable sales projections<\/li>\n<li>\u00a0delay in product development<\/li>\n<li>\u00a0problems getting bank loans<\/li>\n<li>\u00a0difficulties or long lead times encountered in getting parts or raw materials<\/li>\n<li>\u00a0larger than expected innovation and development costs to stay competitive<\/li>\n<\/ul>\n<p>Discuss only those business plan assumptions or potential problems relevant to the success of your business, and describe your plans for minimizing the impact of these risks.\u00a0 A viable and sensible plan of action can go a long way in quieting investors&#8217; doubts.<\/p>\n<p>It&#8217;s more important to know your weaknesses than your strengths.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We know you&#8217;re sold on you&#8217;re business&#8217; potential for success, but are you also aware of any looming risks and problems.\u00a0 Most of us spend more time thinking about everything that can go right in our new venture, than everything that can go wrong.\u00a0 And, it&#8217;s a good thing we do think this way, otherwise [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":53,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-134","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/pages\/134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/comments?post=134"}],"version-history":[{"count":1,"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/pages\/134\/revisions"}],"predecessor-version":[{"id":135,"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/pages\/134\/revisions\/135"}],"wp:attachment":[{"href":"https:\/\/entre-plan.com\/index.php\/wp-json\/wp\/v2\/media?parent=134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}