Managing Risk in a New Venture

From Jay Ebben at Inc.com "Most definitions of entrepreneurs that I have seen include something along the lines of 'someone who takes risks.' While there is certainly some level of risk in every new firm, the process of starting a business should not be about taking risks; rather, it should be about managing the risk that is involved. There are two main sources of risk in a new venture: the risk due to uncertainty surrounding the business and the risk due to what is at stake if the business should fail. You can't get rid of all risk from either source, but there are steps you can take to mitigate it."



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