Register now or log in to join your professional community.
I believe the greatest risk is success if you are not prepared and don't understand success.
Success has its challenges,you must be prepared.
Many businesses succeed initially but fail due to being unprepared or unfocused.
There Should'nt be any risks for a growing business and if there are some risks it means the business is not going towers right direction or it need to take the business on right track.
There could be number of risks as follows:
the ability to live with risk is very much a personal issue . Some business owners can live with more risk than others and some can manage the risk better than others.
Risk is intrinsic part of any business / activity. So in my opinion, NOT BEING ABLE TO take care of, OR IGNORING this aspect altogether during planning/execution/operational phase is certainly something we should take seriously and address accordingly.
So if we could anticipate and be prepared accordingly then risk could be minimised and could be addressed properly else this would be BIGGEST RISK.
The incorrect management and decisions, with uncalculated risks and dishonest and unloyal employees.
There are a lot of riscs to starting a new business but that is why you have opportunity cost to see what can eventually go wrong and discuse it with your project manager so it doesn't . It is important to have your brand manager at hand so you can shape your business to fit perfectly into the market needs and watch if you have rivary or you are a monopoly type of business.
in each and every business there are many risks such as
insure the materials are available
face the new challenges in the market
ability to provide the different needs for the clients
There may be a lot of risks in growing a business but the main ones may be;
- Loss of control over the quality of products/services (As you grow you may have to delegate or outsource)
- Loss of personal touch with the customers/clients,
infact there are a lot more risks to growing a business but the main ones are those that will affect the core of your business i.e your immediate stakeholders (customers, clients, community, shareholders etc) and your product/service.
If you are already in a growing business means you did a good job so far but from there it will only get harder to1- stay growing2- get more market share3- not to fall at the peek mantaning a certen level of growth would consider very hard in nowadays business. you will always need fresh ideas and adjusting plans fitting your currents business postion.
