UNDERSTANDING MARKET RISKS FOR SMALL BUSINESS

• Right place free from competition:

  • start analyzing the competitive risks
  • face competition
  • identify your real costumer
• Lack of competitors is recognised as market risk
• Competition increases profit margin by offering suitable product specifications
• Running behind people without access to products is useless
• According to disruptive innovation theory, when you focus on competitive risk, opportunities to earn revenue become 20 times higher and odds of success become 6 times higher
• Customers are always wondering what type of product you have and you should come out with better options