Risk

• What element is present in every business decision?

  Risk
• What must a successful entrepreneur be willing to do?

  Take risks
• How can entrepreneurs recognize excessive risk?

  By using market research data
• What are the different types of risk an entrepreneur may face?

  • Financial loss
  • Lack of security
  • Business failure
• What does an entrepreneur need to set up a business?

  Money
• What happens if a business is not profitable?

  Risk of losing money for entrepreneurs
• What do entrepreneurs often give up to pursue their business idea?

  Their existing job
• What is a major cause of business failure?

  Lack of cash flow
• What can happen if a customer pays late?

  Inability to buy supplies or pay employees
• What usually forces a business to close?

  Failure to make enough money
• What can cause poor revenue in a business?

  • Lack of market research
  • Running out of raw materials
  • Poor management decisions
• How can entrepreneurs minimize risks?

  • Conduct market research
  • Write a business plan
  • Ensure sufficient funds are available