How Risky Is It To Start A Business And Are There 'Unique' Risks When Starting A Business At 50+

business prep Mar 28, 2019

First, we know nothing in life worth doing is without risk.

And, a ‘riskless’ world is impossible anyhow - life does happen sometimes whether we want it to or not. It’s unpredictable, so there are risks.

But, taking life’s unexpected unpredictabilities out of the equation I believe there are three areas in which we are most vulnerable to risk when starting a business.

The best news of all? Most of these risks are completely avoidable.

#1: Failure to get crystal clear on what your business DOES and WHO you serve.

#2: Failure to do your due diligence

#3: Jumping too soon - aka, before you’ve accomplished #1 and #2.

Watch the video for details, or jump to the part that grabs your attention.

03:28 Life’s Unexpected Unpredictabilities

04:28  When Starting A Business... We Fail To Get Crystal Clear on What We Do and Who We Serve

07:35  We Have To Have ONE Ideal Customer

12:56  Understanding Our Customers Is An Ongoing Process

14:33  We Fail To Do Our Due Diligence On A Business

15:33  When You Sell Something To Customers… Ask Them Why, What,  When, How

17:18  Jumping Into Soon

18:50  What Happens When We Don’t Enough Information Of What We’re Doing?

24:12  Are There Any Risks Associated With Starting A Business At 50 And Beyond?

25:11  Starting A Business That Does Not Align With How You Want Your Life To Be

27:46  Not Thinking It Through

32:56  95% Of The Risks Are Avoidable


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