Why Risk Management Must Be a Core Competency for Entrepreneurs

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In a post on the Cayenne Consulting website, Akira Hirai makes a powerful point about entrepreneurship and risk. Entrepreneurs take on so much risk that structured risk management becomes essential:

The key insight here is that a company that is reasonably good at managing individual risks might have a marginal chance of surviving overall. That’s why “reasonably good” isn’t good enough – risk management must be among the entrepreneur’s core competencies.

Hirai’s advice? Use risk management within your start-up team. We agree. Perform a risk inventory, create a risk register, and formalize your risk cycle. With so many unknowns, it pays to think ahead.

Click here to view original web page at www.caycon.com

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