Draw up a risk register to log and assess the risks that could negatively impact your chances of success
Factors to consider
Factors to consider in this risk register are:
- What risks have I identified?
- What is causing the risk?
- What is the chance this risk will affect my plans or my business (why note assess the chance on a scale from 1-10)?
- How severe would the impact be on my plans or business (e.g. very little, some, a lot but we can survive, disastrous)?
- What can I do now or in the future to limit the effect of this risk?
- Can I accept and manage any remaining risks after I take this action?
- If not, do I need to get support or advice on how to change my plan or business model?
Support and Advice
Deciding to start your own business can be a lonely and daunting task.
Millions do it and so can you.
To make this task easier there will be a number of sources of support and advice already around you Alternatively, make new ones that you can tap into (often completely free of charge).