While operating your own small business can be extremely satisfying, shouldering the burden of possible consequences when things don’t go well can be quite daunting. For this reason, having a strategy for managing risk is critical. Common risk factors include having too small of a customer base, dealing with the threat competitors present, keeping your technology up to date, and maintaining solid and positive cash flow. While none of these are necessarily simple to deal with, planning for dealing with them makes surmounting them odds more likely.
Read more: How to master the art of risk management in a small business
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