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How to Manage Risk in Your Small Business?
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[QUOTE="Etini, post: 276980, member: 90141"] There are what we call calculated risks. This kind of risk has been weighed and found that the success factor is higher than the risk factor. You don't take risks without ascertaining if you even have a chance of making it out unscathed. Businesses don't just take risks like that. They sit and weigh the risks involved and they don't commit so much to a project of high risk. They grow that kind of project in a systemic pattern. Also, for every risky venture, have a plan B. This is a backup plan that you can fall back on if it all comes crashing down. Every risky venture also has measures for managing the risks involved. The problem with small businesses and risks is that they don't take the time to study everything about what they want to venture into. Most times, their eyes are always on the profit margins. Risks can always be managed if you are prepared ahead of time. [/QUOTE]
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How to Manage Risk in Your Small Business?
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