Smooth Sailing
To manage your startup risk, put a plan in place to deal with any rough waters up ahead.
Though no business is free from risk and worry, there are a few ways to significantly lower the risk of typical startup hazards. Brad Forsythe, founder of Best Practice Advisors LLCin Milford, Ohio, and author of Bulletproof Your Business: Cutting Risk for Small Business Owners and Managers, shares his tips:
1. Focus your energies on what makes you the most money. This limits your risk in that you're not spreading yourself too thin. If you allow yourself to be pulled in a zillion directions, you take away from what makes you profitable in the first place. Don't let off-focus opportunities derail you from your main vision.
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