If you have an idea for a business or if you ever hope to start a business then make sure you check out this great video from Stu Hayes & Rich Sayer.
In starting or expanding any business, it's important to realise YOU control the level of risk attached to it. Needless to say, getting a good handle on how much risk you face is critical - it's also an ercise that is often overlooked.
To illustrate the importance of understanding the business risk you face and how to reduce it, Stu and Rich share their personal stories openly. They also pose some really powerful questions in areas including:
- Existing clients
- Protectable IP
- Positive cash flow
- No IP
- Working capital
It's great viewing, inspiring and at many times pretty funny too!
They also share some great tips on how to assess whether your business start up idea is risky too.
Check it out, and leave a comment below.
Yours in success
Stu Hayes & Rich Sayer
Make It Big Training