Entrepreneurship sounds very fascinating especially when you have some inspirations around you. While talking to a successful entrepreneur you might think that no job is better than being the owner of your own business. Things might seem very simple from a distance but as soon as you jump into a business, you come across the realities and hardships.

No one invests in a plan that is not supposed to work. Before making any investment (whether it is in terms of time or money) everyone takes certain measures and do the calculations to make it successful. But, at the end not more than 2 percent can make it through.

If you are planning to launch or you are already running a startup. These basics if worked out properly will definitely be a great help.

RIGHT AIM “Define the right Goal”

Final outcome of all efforts is achievement. The more the achievement is close to the goal, the more successful the efforts are considered.  You might set your goal by looking at the achievements of who you idealize. But remember, their achievements might not be their goal. They must be aiming higher. So, someone’s today’s transit state should never be your destination. Define your goal wisely while having a realistic understanding of circumstances and resources. Because, all your future efforts will be targeted towards the goal you are going to set today.

PLAN “Make a realistic Strategy”

Once you clearly understand what goal you want to achieve, you must clearly define the path that will take you to the destination. Approach must be defined while keeping the true and honest picture of your abilities and it must be very realistic as multiple approaches may lead you to the same destination but, each approach has a price to pay. Selection of appropriate strategy needs to be made according to your constraints.  

FLEXIBILITY “Hit and trial and never tire”

You make a rough plan with parameters; once you execute and see the reality. What you apprehend at planning stage can never be the same as you experience during execution. Even a wrong move can sometimes give a better level of understanding for a better future approach. But, if you have the flexibility you can always make your efforts worth it by keeping them in the right direction.

TIMELY DECISIONS “Right time for the right move”

The point is to keep going towards the right goal. One should be wise enough to anticipate whether to move away from the hurdle or to find an alternate route. But, remember the most important thing is time management which includes timely decisions, whether it’s a change in strategy or allocation of more resources that if delayed, can cause loss.

STAY MOTIVATED “Secure Milestones DO NOT Stop”

Scenarios keep changing, unforeseen conditions and other setbacks can make things  more challenging. Which sometimes may lead towards withdrawal.

To save from the bigger loss it sometimes becomes essential to stop putting more efforts into your existing business model but, this is an extreme condition which should never be linked with every hurdle.

Problems keep arising but Unnecessarily slowing down the process or terminating it at any stage is a wastage of every input that has already been given.

It is important to decide how to keep moving. The areas where an output doesn’t appear as it is desired should be worked out. But, those inputs should be well managed and if one direction slows down other dimensions should be given more attention and new dimensions must be explored.

2 Replies to “How to Eliminate The Risks for Startup Business”

  1. I’ve been exploring for a bit for any high quality articles or weblog posts in this sort of area
    . Exploring in Yahoo I at last stumbled upon this site.

    Reading this information So i am satisfied to show that I have an incredibly good uncanny feeling I found out
    exactly what I needed. I most without a doubt will
    make sure to do not fail to remember this website and provides it a
    glance regularly.

Leave a Reply

Your email address will not be published. Required fields are marked *