T.S. Elliot once wrote “Only those who will risk going too far can possibly find out how far one can go.”
You can’t run your own business without taking risks and if you get too hung up on them you won’t do anything but it’s important to minimise the chance of the biggest risks putting an end to your dream.
Here is a list of some key business risks:
- The risk of running out of cash
- Over reliance on anyone, You, key Staff, Customers or Suppliers
- Is there a partnership or shareholders agreement in place?
- Is there an IT strategy and does it cater for all IT developments?
This list isn’t exhaustive by any means but it can be a good start, so why not spend an hour this week looking at the risks in your business and produce a plan to help combat them.
I appreciate that you haven’t always got the time to spend working on your business and this is where we can help.
We are more than just accountants and we have a range of services, listed on our additional services pages, that can help your business.
