After looking at opportunity discovery canvas, what is your risk of wealth when it comes to...
After looking at opportunity discovery canvas, what is your risk of wealth when it comes to starting your business or solving a problem? 4-6 sentences
Homework Answers
Answer:
Risk of wealth on starting your own business:
Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks while starting a new business. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.
Financial risk, of course, is the big one. Most businesses require investing some of the entrepreneur’s money and often other people's money who act as an investor. During the initial days, entrepreneurs are also required to finance the working capital for the business which slowly depletes the wealth of the entrepreneur.
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